I just love the disconnect from the social realities.
Yawn, unemployment rates will rise, without the slightest consequences to the sages of the money market.

But actually, there is an across the board consequence to unemployment.
We see it in Au. The financial industry is upending itself through the unpredictables of Hong Kong and Brexit, and the uncertainty of the US Chinese Tarif war.

Expatriates are returning to an uncertain future as a consequence. And a blame game is simmering away under the surface of this smug industry.
I don't wish to imply suffering to anybody losing their job is good, but this industry is taking a big fall in silence.

Dan

While the author bemoans the state of the US economy - with a US Federal Reserve interest rate of 1.9% and US unemployment rate down to 3.7%...

...things are much worse here in Australia with the RBA, on 1 October 2019, lowering the cash rate to 0.75% and with our unemployment rate in September 2019 being 5.3%.

1. The RBA has failed to kickstart the economy with its cash rate reductions.

2. The Morrison Government's decision to reduce taxes (mainly benefiting the rich) has not translated into higher spending by those lucky taxpayers. So no discernable benefit to the economy.

Although the rich remained loyal Liberal voters helping the Real Beneficiary - the Morrison Government, win the 2019 Federal Election...

The Morrison Government's decision to reduce taxes (mainly benefiting the rich) has not translated into higher spending by those lucky taxpayers.
Plantagenet,
How so ? Got any figures ?