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Bloomberg Businessweek
Major Market Sell-Off, Worst Jobs Day in Two Years
Aug 2, 2024
Claudia Sahm, Chief Economist at New Century Advisors, leads a discussion with experts including Ira Jersey, a Chief US Interest Rate Strategist, and Anna Wong, Chief US Economist at Bloomberg Economics. They explore the recent market sell-off and its implications for interest rates. The panel analyzes job market declines and their potential effect on recession risks. Torsten Slok from Apollo Global Management adds insights on how these trends could reshape monetary policy decisions and impact investor strategies moving forward.
49:00
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- The U.S. labor market is slowing down, marked by a drop in hiring and rising unemployment, signaling potential economic concerns.
- There is growing anticipation that the Federal Reserve will implement aggressive rate cuts in response to the weakening economy and labor market.
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