Fed Chairperson, Jerome Powell has stated the USA is at full employment and has a 2 percent inflation rate so now it the time for interest rates to come up and normalize.

In recent weeks job losses and new unemployment claims rose to over 200,000 per week. I find that odd considering this is the holiday season.

Some jobs were lost due to the hurricanes, but, hiring across the country for holiday hiring should compensate for that. The truth is and has been an underlying job tightening in the labor market. It is starting to show. I expect the job loss trend to continue. 

Tariffs will cause companies to pull in their budgets, especially when this is all new ground. The worst is not yet realized.