Phew. Hey there. Senior reporter Phil Rosen here. Before we jump into the newsletter, the Silicon Valley Bank saga is continuing to unfold, so let's quickly break down the latest.
Good morning readers. Phil Rosen here. It's jobs day today.
If the reading comes in too hot, the Fed's going to have even more ammunition to push interest rates higher in the coming months — and every move higher tightens the screws on the economy even more, ramping up risk of a recession.