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US Jobs Data Will Help the Fed Gauge the Extent of Its Moderation
Upcoming readouts on the US labor market, including the monthly payrolls report, will give Federal Reserve policymakers insight into the need for further interest-rate reductions after an all-but-certain cut in a little more than two weeks. With inflation slowing - although still running faster than the Fed’s goal - Chair Jerome Powell has telegraphed a September rate cut and said that officials “do not seek or welcome” further cooling in the labor market. Weeks earlier, government figures showed lower-than-expected July job growth and the highest unemployment rate in nearly three years. This coming Friday, the ... (full story)