Stock Market is up and ADP Employment Report is in. We are slightly off expectations of 150,000 jobs created in the private sector. January was 111,000.

Mortgage applications are up 9.7% as are refinance applications. Still lower than last year but the trend is there.

Job Stayers pay increased 5.1%, while Job Changers saw an increase of 7.6%. This was the first increase in 19 months.

Powell’s prepared remarks did not shed light on his future actions other than there is not enough confidence that inflation is moving sustainably towards 2%.

So we wait…..