The Data Says Stagflation

On Friday Peter capped off the week by discussing the latest round of troubling data. With the nonfarm payroll report coming in far below expectations, Peter elaborates on the predicament the Fed is in. With mounting political pressure and an election in mere days, how will the Fed possibly manage both inflation and a stagnating labor market? Peter’s answer? They can’t.

During the last several months, the media and political class have insisted the economy is healthy, even if it is cooling. But...