Fed Admits the Economy May Be Hitting a Wall — And “Uncertainty” Is the New Tax

A Jobs Report That Spooked the Fed July’s jobs report came in weaker than expected, with average job growth over the past three months running at just 35,000 per month. Even worse, the Labor Department issued large downward revisions to May and June’s numbers. Federal Reserve Governor Lisa Cook, speaking alongside Boston Fed President Susan Collins, called the report “concerning” and noted that such revisions are “typical of turning points” in the economy — a phrase that should grab every investor’s attention. Translation: this is the kind of data pattern we see when the expansion phase is ending. The Hidden “Uncertainty Tax” on Business Cook and Collins both hammered on what they’re hearing from CEOs and CFOs across industries: the…