The term "stagflation" introduced by a Brit. The Brits are hypersensitive to high unemployment; the Americans hypersensitive to high inflation.
September, 2022, numbers: employment in the US continues to surge even as the Fed raises rates to try to kill employments; third-consecutive-75-bp increase in the "Fed rate." Market takes it in stride.
WTI: up over 2%, trading at $88.37.
Market suggests most investors still concerned about recession.
As folks know, I prefer U-1, and not U-3 when in periods of recession-anxiety.
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