"Fed Mouthpiece": The Labor Market May Become the Biggest Clue for Future Rate Cuts
BlockBeats News, January 29, "Fed mouthpiece" Nick Timiraos recently wrote: The Federal Reserve has kept interest rates unchanged as expected and has not specified when it might resume rate cuts. In the December forecast, 12 out of 19 officials considered at least one more rate cut this year to be appropriate.
The answer depends on which of the following scenarios occurs first: a collapse in the job market, or inflation convincingly returning to the 2% target.
Since December, neither has happened. Job growth has slowed significantly, but the unemployment rate has remained stable. Due to statistical disruptions caused by the government shutdown, inflation data has become murky. If the labor market does not weaken further, the next rate cut may have to wait until after Powell's term as Fed Chair ends in May this year. (Golden Ten Data)
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