This is a news story, published by Fortune, that relates primarily to Claudia Sahm news.
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recessionFortune
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77% Informative
A weak July jobs report triggered one of the most well-known, and historically accurate, recession indicators: the Sahm Rule.
But the rule’s inventor, Claudia Sahm , pushed back against the doomsday narratives that gained traction after its triggering on Friday .
The Dow Jones industrial average sank 1.5% on Friday , while the S&P 500 and tech-heavy Nasdaq Composite plummeted 1.8% and 2.4% .
Growing chorus of Wall Street leaders and economists calling for interest rate cuts this week stands in stark contrast with Fed Chair Powell’s more hawkish Wednesday press conference.
Powell brushed off questions about the Sahm Rule earlier this week , calling it more of a “statistical regularity” than an “economic rule”.
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