The US economy is slowing down more than anticipated, justifying a potential 50 basis point interest rate cut.

“I mean I think the economy is a lot slower than what people thought which to your point the Silver Lining is that it probably Now tips the balance of action in September to a cut and if it was 25 basis points there's probably going to be a lot of folks lobbying the FED to cut 50”

The official job market numbers are consistently revised downwards, indicating the economy is weaker than initially reported.

“they've all been down yeah so what I saw was a pattern of revisions down and now we've seen the biggest one so it's not altogether surprising to me”