FAST FIVE: Powell's Plan Is Not Working – Initial Jobless Claims Plunge To 5-Month Lows

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Powell's Plan Is Not Working – Initial Jobless Claims Plunge To 5-Month Lows Well this is not going to help fight inflation.

The number of Americans filing for jobless benefits for the first time dropped back below 200k last week (193k) – the lowest number since April.

Continuing Claims also fell to its lowest in 3 months.

Fed Chair Powell will not be happy that his cunning plan to fight inflation by easing the tightness in the labor market – by raising rates and crushing the economy – does not seem to be working.

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