Can The Fed Defend Cutting Rates With NSA Jobless Claims Near Record Lows?

The ongoing normalization of jobless claims in Texas – post Hurricane Beryl…

Source: Bloomberg

…has pulled initial jobless claims down dramatically. On a non-seasonally-adjusted basis, initial claims are basically at multi-decade lows…

Source: Bloomberg

Continuing claims inched lower but remain above the 1.8mm Maginot Line…

Source: Bloomberg

How will The Fed defend rate-cuts with jobless claims (if you can believe them) near record lows?