Why the Fed is increasingly flying blind on the economy

Analysts have long expected a slowdown in the US labor market, but for the past 10 months, the data has come in better than expected.

News: What you need to know about the markets     Why the Fed is increasingly flying blind on the economy Analysts have long expected a slowdown in the US labor market, but for the past 10 months, the data has come in better than expected. Read more »   Elon Musk tweets support for 'Dilbert' creator after racist tirade Elon Musk defended "Dilbert" creator Scott Adams after hundreds of newspapers stopped printing the comic strip because of Adams' recent racist comments. Read more »   Economists' crystal balls are growing cloudier. But they still expect a recession The US economy is confusing: Jobs are surging. Inflation has been cooling but still running relatively hot. Gas prices are on the rebound. Consumers keep spending, and their confidence is growing. But holiday sales were tepid. Corporate layoffs are mounting. Company earnings aren't stellar. And mortgage rates are ticking higher. Read more »   New York Times: Twitter lays off another 10% of staff Twitter's massive job cuts continued this weekend, as the company cut about 10% of its remaining staff, according to a report in the New York Times. Read more »   Inflation is doing a crab walk and Fed officials fear its pinch The possibility of a 2023 market rally ground to a halt last week amid an onslaught of unfortunate inflation and economic data that spooked investors and increased the likelihood that the Federal Reserve will continue its economically painful rate hikes campaign for longer than Wall Street hoped. Read more »   Long Covid disabled them. Then they met a 'broken' Social Security disability process Pushing through cognitive impairment, migraines and severe fatigue, Michaelene Carlton, 49, mustered up the energy last week to dial the Social Security Administration to speak to her newly appointed Social Security Disability Insurance case manager. She has left six messages, one every two weeks since late December, and she still hasn't heard back. Read more »

Dow Nasdaq S&P +72.17   +72.04   +12.20 32,889.09   11,466.98   3,982.24 +0.22%   +0.63%   +0.31% YTD -0.78%   YTD +9.56%   YTD +3.72%

Biggest Winners Union Pacific Corp +10.09%   Live Nation Entertainment Inc +4.43%   Albemarle Corp +3.01%   Mosaic Co +2.91% Biggest Losers Lumen Technologies Inc -4.49%   EQT Corp -3.46%   Charles Schwab Corp -3.37%   Bath & Body Works Inc -2.33%

Hottest ETF NYSE Market Volume

Key Market Stats Latest Today's Change Oil $75.72 -0.60 / -0.79% Gold $1,824.30 +7.20 / +0.40% 10-yr 3.92% -0.03 Euro $1.06 +0.01 / +0.51%

More Markets Now   Watch the live digital show, now every Wednesday 12 p.m. to 12:15 p.m. ET.

Hi, let us know what you think of this newsletter!   Tell us what you want to read more of... and less of. Email your tips and feedback to MarketsNow@cnn.com

Sign up for Reliable Sources newsletter   Sign up for Before the Bell newsletter

Tips, thoughts or questions are always welcome at MarketsNow@cnn.com   Want to change how you receive these emails? You can unsubscribe from this list   ® © 2023 Cable News Network Inc. A WarnerMedia Company. All Rights Reserved. You are receiving this message because you subscribed to CNN Business's "Markets Now" newsletter. Our Mailing address is: Cable News Network, Inc. 1 CNN Center Atlanta, GA 30303