Initial Jobless Claims Tumble Back Into Their Four-Year Range As Texas Anomaly Normalizes

Initial jobless claims tumbled back into their four year range after spiking the prior week. From 264k prior, 231k Americans filed for jobless benefits for the first time last week The drop in initial claims reflects a reversion of the mystery spike in Texas (apparently driven by hiring/firing of state educators)... Texas swung from the biggest increase to the largest decrease in claims... Continuing Claims trended lower but remains above the Maginot Line of 1.9 million Americans... Will this lead Powell and The Fed to now cut back on their...