A Jobs Day Breakdown and Outlook for Rate Cuts
Bloomberg Surveillance
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Analysis of Latest Jobs Day Report and Implications for the Federal Reserve
The chapter delves into the recent Jobs Day report, emphasizing the wage component's concern and its impact on labor supply and demand imbalances. It discusses potential rate cuts, the strong payroll gain, and the need for consistent disinflation evidence, possibly delaying cuts until 2025. The conversation covers broad labor demand, economic indicators, wage inflation data, and the bifurcation of the economy between asset holders and non-asset holders.
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