Apparently my company filed notice with the state of CA on Friday of a small number of layoffs (<100) in CA effective Jan 6th. CA has a law that requires employers to give 60-days notice to the state of any layoffs. From what I can tell, it's less than 10% of our CA employees (as our US HQ is in CA).
I know this borders on political, but I am sick of the Fed raising interest rates with the deliberate outcome of increasing unemployment. I don't know anyone who is spending excessively and deliberately trying to spend more than they have to. I have a mortgage so my housing payment isn't going to change (save for small changes in taxes/insurance). My vehicle is paid off and I have no plans on changing that unless absolutely necessary.
What I don't see people talking about is competition. Mergers and acquisitions have left most industries with at most 3-4 big companies that account for >75% of sales. If you want bran flakes with raisins for breakfast, your choices are Kellogg's, Post, and whatever the store brand is. If Kellogg's raises their prices, you can bet that Post and the store brand will raise theirs as well. If you switch to oatmeal, you have Quaker, the generic store brand, the premium/organic store brand, and maybe one or two smaller organic/premium companies. There's not a lot of choice, and they're all subject to grain prices.
The Fed can only control interest rates, but the government needs to focus on increasing supply and competition. Demand isn't the issue.