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• Investor confidence has waned, highlighted by the S&P 500's significant drop, as the better-than-expected jobs report has raised fears that inflation could lead the Federal Reserve to maintain higher interest rates longer than anticipated.
• The Fed's previous forecasts of an improving job market and lower unemployment have proven inaccurate, as real job growth, particularly among native-born Americans, has stagnated versus foreign-born counterparts, raising questions about the Fed's handling of the labor market and its implications for monetary policy.
• Despite claims of unprecedented job growth from the Biden administration, data shows a troubling disparity in job recovery between foreign-born and native-born workers, with the latter still falling short of pre-pandemic employment levels.