Post by ferris1248 on Jun 7, 2024 16:06:08 GMT -5
This could make for an interesting 3rd and 4th quarter.
"Employers added 272,000 new jobs in May, exceeding all estimates in a Bloomberg survey. On top of that, average hourly earnings over the past 12 months ticked up after three straight declines that had begun to reassure the central bank."
"While the figures likely won’t change expectations that the Fed will continue to hold interest rates at a two-decade high when policymakers meet next week, it’ll fuel a discussion that officials have been pondering for months — with some saying another rate hike can’t be ruled out."
"Those numbers are “reopening the door a little bit wider on the debate over whether or not policy is indeed as restrictive as the Fed thinks it is,” BlackRock Inc.’s Jeffrey Rosenberg said on Bloomberg Television."
"Treasuries sold off and the dollar strengthened as traders trimmed bets on how much the Fed will cut rates this year."
"Ironically, the flurry of Fed comments on the topic came just as a spate of data suggested the economy’s surprising strength was beginning to wane. In April, consumer spending unexpectedly fell as shoppers showed more sensitivity to prices. Hiring also cooled and a measure of underlying inflation eased for the first time in six months."
"But the strong May employment figures, with hiring robust across many sectors, puts the neutral debate right back on the table as Fed officials prepare for a June 11-12 policy meeting in Washington."
finance.yahoo.com/news/jobs-surge-reignite-fed-debate-170850319.html
"Employers added 272,000 new jobs in May, exceeding all estimates in a Bloomberg survey. On top of that, average hourly earnings over the past 12 months ticked up after three straight declines that had begun to reassure the central bank."
"While the figures likely won’t change expectations that the Fed will continue to hold interest rates at a two-decade high when policymakers meet next week, it’ll fuel a discussion that officials have been pondering for months — with some saying another rate hike can’t be ruled out."
"Those numbers are “reopening the door a little bit wider on the debate over whether or not policy is indeed as restrictive as the Fed thinks it is,” BlackRock Inc.’s Jeffrey Rosenberg said on Bloomberg Television."
"Treasuries sold off and the dollar strengthened as traders trimmed bets on how much the Fed will cut rates this year."
"Ironically, the flurry of Fed comments on the topic came just as a spate of data suggested the economy’s surprising strength was beginning to wane. In April, consumer spending unexpectedly fell as shoppers showed more sensitivity to prices. Hiring also cooled and a measure of underlying inflation eased for the first time in six months."
"But the strong May employment figures, with hiring robust across many sectors, puts the neutral debate right back on the table as Fed officials prepare for a June 11-12 policy meeting in Washington."
finance.yahoo.com/news/jobs-surge-reignite-fed-debate-170850319.html