NFP prints 23k and now Fed Funds Futures are pricing in a pause. This is going to be a wild stagflationary ride, isn't it?

Last edited Oct 2, 2026 · 12:45 PM UTC

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Replying to @Mayhem4Markets
you sure we keep up the 'flation part without much wage growth?
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Replying to @Mayhem4Markets
Stagflation needs both legs. This print only delivered the growth one: a soft headline, two prior months revised away, U3 up to 4.2%. The price leg is coming from energy, not wages. And a supply shock is the one impulse a reaction function is built to look through.
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Replying to @Mayhem4Markets
That's the plan - inflation keeps the mkts up - and the paper ilussion everything is ok
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Replying to @Mayhem4Markets
Yup
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