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With the Federal Reserve’s recent decision over keeping interest rates the same paired with the latest jobless claims data, it’s now up for debate again whether Fed officials will initiate a rate cutting cycle at the September FOMC meeting.Wall Street Journal chief economics correspondent Nick Timiraos joins Market Domination to give insight into the Fed’s recent decision and how it will affect the trajectory of the US labor market.When asked about how the Fed is viewing the labor market conditions, Timiraos states: “Well, I think the issue right now on the committee is really one where I think the hawks, people who have been reluctant to entertain cutting,… there’s a question to ask right now which is where are upside inflation risks going to come from in an economy where the view, the vacancy, the unemployed worker ratio, is falling to where it was before the pandemic. You have hiring rates down, layoff rates are low, so turnover is low. To the extent, you’re worried that people are going to bid up wages by changing jobs, that doesn’t seem to be happening.”He continues by stating the F …
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