Dan Loeb says CPI, jobs may have exaggerated economic strength

Bloomberg/Victoria Batchelor/2-18-2023

“The billionaire leader of New York-based Third Point said in a series of tweets that there are signs of a slowdown. ‘I say this all with caution and await some confirmation next week on the jobs front,’ said Loeb,”

USAGOLD note: The question is whether the slew of reports indicating a hotter-than-expected economy will affect Fed thinking……The next FOMC meeting isn’t until March 21, so members have time to see how it plays out  – “This job,” says Loeb,” is sometimes like a game of 3 card monte where the dealer tries to trick you into thinking you see the card.”

Related: Fed’s preferred inflation gauges seen running hot/Bloomberg/2-18-2023