The Calafia Beach Pundit is Scott Grannis, who regularly writes an insightful and informative economic-oriented blog. Scott was Chief Economist from 1979-2007 at Western Asset Management, a Pasadena-based, global manager of fixed-income portfolios for institutional clients. He continues to keep up on economics, markets, and politics from his condo overlooking Calafia Beach on the southern California coast, where he likes to think that he is immune to Wall Street group-think. He is a believer in supply-side economic theory, as practiced by his mentors, Art Laffer, Larry Kudlow, and the late Jude Wanniski. John Rutledge is another of his mentors, from the days that they worked together at Claremont Economics Institute.
TODAY’S ARTICLE: is entitled “Jobs Growth Is Slowing, Despite Big June Gain”
COMMENT: The Author believes that the recent trend to slowing jobs growth is not a sign of a coming recession, so the Fed does not need to act with any degree of urgency. He believes the slowing jobs growth is a result of businesses having some difficulty finding workers and that some businesses are hesitating because of economic uncertainty resulting from Trump’s ongoing trade/tariff wars. Still, he thinks the Fed will act at its up-coming meeting at the end of the month. Despite the recent weak growth of jobs, productivity has been running at about 2% annually, so the economy’s financial fundamentals are still quite healthy.
You can read the entire article by clicking HERE
