The US manufacturing sector is not doing well, it is shrinking for the fourth month in a row. This is happening while the rest of the economy is growing, especially the service sector. The reasons for this are that companies are not investing in new machines and buildings, and they are not making as many things as before. This is causing some people to lose their jobs and making things more expensive. The US dollar is worth less, and the prices of some things like bonds are going down. Some people are worried about this, and others are not so worried. Read from source...

- He did not provide any

What is the impact of the US manufacturing data on the stock market and various asset classes? What are the implications for the Fed's monetary policy? Please provide a concise and informative answer.