Unemployment claims continue to drop. That’s the storyline that has persisted for almost a year and a half since close to the start of the COVID-19 pandemic in the U.S. in March 2020.
In boxing, they say it’s the punch you don’t see coming that hurts the most. It’s the opposite today on Wall Street, where stocks are falling sharply despite a blow from the Fed that almost everyone probably knew was in the works.
Thursday, last week after work. I jump on the last remaining Divvy bike outside my office and ride across the city to Chicago’s Gold Coast. I’m looking for a new suit. The first place I go to is completely slammed. Men are getting fitted for a return to their office for the first time in a year, and one group is getting prepared for a wedding.