March jobs report 'doesn't change anything for the Fed,' on rate cuts economist says
Vložit
- čas přidán 16. 07. 2024
- The March jobs report showed an addition of 303,000 jobs to the market, accompanied by an unemployment rate of 3.8%. Citi's Chief US Economist Andrew Hollenhorst joined Yahoo Finance Live to provide insight into the potential implications of this data for future Federal Reserve rate cuts.
Hollenhorst acknowledges that the jobs report was stronger than expected, but emphasizes that it does not significantly change the overall landscape. He states that this is "exactly the kind of jobs report" the Federal Reserve aims to see, supporting strong job growth without a corresponding uptick in inflationary pressures that would raise concerns.
Hollenhorst notes that recent Federal Reserve rhetoric has pushed a narrative that the "potential" of the US Economy is greater and that job growth is higher than previously anticipated. As a result, he believes this type of robust job report could still keep the Fed "on track" to implement rate cuts.
Furthermore, Hollenhorst believes the Fed knows that current interest rates are "restrictive at these levels" and that failing to cut rates could potentially slow the economy in the future. However, he also highlights two major concerns: First, cutting rates too early could risk reigniting inflationary pressures, and second, there are risks to "the employment side," which could see "a quick shift toward layoffs."
#stocks #youtube #news
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (apple.co/3Rten0R) or Android (bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: / yahoofinance
Instagram: yahoofinanc...
TikTok: www.tiktok.com/@yahoofinance?...
Facebook: / yahoofinance
LinkedIn: / yahoo-finance
It will be revised down, massively.
what resistance to layoffs have you seen the news?
A broader measure that includes discouraged workers and those holding part-time positions for economic reasons held steady at 7.3%.
The economy is great, I have 5 jobs!
Hello members of Federals, USA citizens want rate cut to get more money which is not bad, however inflation result was high there for rate cut should not be in the agenda for this year USA economy is ok , might do better hopefully.
Amali
Victoria
Australia
Thanks
😂😂
wow - The Economy is BOOMING BIG TIME! Look at this Job Numbers - 303K in March Thank you President Biden
Reported bot account.