This chapter explores the recent US job growth metrics, examining their impact on inflation and Federal Reserve policy decisions. The discussion highlights labor market dynamics, emphasizing the cautious outlook on inflation amidst shifting unemployment figures. It also contrasts the current economic situation with historical trends to assess future monetary policy adjustments.
The US hiring fell short of forecasts in August after downward revisions to the prior two months. The data are likely to fuel speculation that the Federal Reserve will deploy a big rate cut in September. Bloomberg's Tom Keene and Paul Sweeney get analysis on the numbers from Renaissance Macro Research Head of US Economic Research Neil Dutta, New Century Advisors Chief Economist Claudia Sahm, Moody's Analytics Chief Economist Mark Zandi, and Bradesco BBI Head of Equity Strategy Ben Laidler.
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