This week we’re looking at the uncomfortable split between the official “things are fine” narrative and the inflation pressure showing up across jobs, CPI, PPI, markets, and global central bank decisions.

The headline jobs number looked strong, but the details tell a more complicated story: hiring was concentrated in government, services, healthcare, and seasonal hospitality—not exactly a clean signal of broad economic strength. Meanwhile, inflation data showed prices heating up again, producer costs rising faster than consumer inflation, and markets reacting badly to the idea that rate cuts may not be coming anytime soon.

In this episode, we cover:

• Why the jobs report looked hot—but came with a giant asterisk
• What the tech selloff says about rate-cut expectations
• Why CPI and PPI are both flashing inflation  ...