Job creation rates in the United States have been disappointing for the second straight month, raising market doubts as to whether the Fed is in a position to announce a reduction in asset purchases soon next month.
With unemployment falling for the third straight month, not all the underlying details are overwhelmed to the point where the underlying inflationary pressure can begin to approach thresholds that could increase further. .. In addition, the hourly wage was surprised and accelerated compared to the previous month.
The latest job report may disagree with the widely-supported view in the market that it is very likely that a tapering announcement will be made at a policy meeting in November, but only one piece of data is timely. I don’t think it will change. Unless additional downside surprises emerge, the FRB Commission believes that the formal tapering signal by the end of the year remains a central scenario.
The key question is what happens to the policy rate, regardless of the exact quantitative easing policy. In our view, the timing and pace of the taper is not a direct signal of future rate hikes. Federal Reserve Board forecasts show that at some point in 2022, more and more policy makers are thinking that a rate hike could be justified, but if not more. , May be about a year away.
The US economy adds far less work than expected.British consumer groups warn about fuel poverty – live | work
Source link The US economy adds far less work than expected.British consumer groups warn about fuel poverty – live | work