There Is No Sustainable, Moderate U.S. Economic Growth in Play,
Irrespective of Federal Reserve Pronouncements

FOMC Needs to Cut Rates to Boost the Economy and Help Consumers,
But It Likely Will Not Do So at Its December 10th to 11th Meeting

The FOMC Likely Will Continue to Meet Any Unexpected Funding Needs of
Its Parent Banking System, In Order to Maintain Systemic and Market Liquidity

Record Low Headline Unemployment Continued Amidst
Levels of Labor-Market Stress Consistent With a Major Recession

Annual Payroll Growth Should Drop to Its Post-Great Recession Low, Along
With the Benchmark Revisions Indicated for Headline January 2020 Payrolls

Improved October Trade Deficit Was an Artefact of the General Motors Strike,
Which Otherwise Put a Dent in Recent GDP Activity

November 2019 Money Supply M3 Annual Growth
Jumped to 8.5%, Highest Since February 2009