Is the US Economy Climbing Into a Fatal Stall?

President Joe Biden speaks about the U.S. economy at Steamfitters Local 602 in Springfield, Va., on Jan. 26, 2023. Andrew Caballero-Reynolds/AFP via Getty Images

Commentary

Everybody loves to see egg all over the faces of experts, but the blowout of the Wall Street consensus forecasting 190,000 new jobs for January by an actual number of 517,000 was more yolk than anyone bargained for. The favored media meme is that unemployment, which was supposed to go up, is instead at 3.4 percent, now at its lowest since before man landed on the moon.