“If it looks like a duck, walks like a duck and quacks like a duck, then it just may be a duck”. Is the US economy experiencing the much desired and crypto-bullish “soft landing”?
Labor markets and soft landing
A “soft landing” can be defined as a shallow slow down of nominal growth, mainly driven by slowing inflation, and that is neither associated with real growth falling significantly below zero, nor with a surge of the unemployment rate.
Both the US and Europe labor markets are currently experiencing a slow cooling, characterized by a decrease in vacancies or job openings (US lowest since April 2021), growing labor participation (US highest since March 2020), lower quit rates (US lowest since January 2021), and a very gradual...