The chairman of Oleary Ventures Kevin Eleary joins in the morning Maria to discuss why many cuts can be reduced by the Federal division and the political influence if the political influence if the political influence threatens the independence of the food.
Chair of Organizational Conservation Jerome Powell It explained how the central bank views the labor market after cutting lending rates last week for the first time, with a new jobs report out on Tuesday.
Powell spoke at a press conference afterward The Federal Reserve Policymakers voted to lower the benchmark Federal Funds rate by 25% points to 3.5% to 3.5% to 3.75%, amid weak market signals for arvice and emerging risks in part of the Fed’s Dual Mandate.
Powell noted that the most recent jobs report from the Bureau of Labor Statistics (BLS) released in September revealed that the unemployment rate “continues to fall, reaching 4.4%, and that job gains have slowed significantly at the beginning of the year.”
“A good portion of the slowdown reflects a slowdown in labor force growth due to a trend in the labor force’s arrival, or a clear trend in labor demand.
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The chairman of the Federal Reserve Chailos Jerome Powell said that there are no signs of sharp burning in the labor market. (Jim Watson/AFP/Getty Images)
The Fed’s latest decision was consistent with the summary of Economic Speculationcommonly known as the “plot of dots,” it shows the unemployment rate rising to 4.5% by the end of 2025 before tapering down from there to 4.4% the following year.
Powell said that the Fed does not expect a sharp bottom in the Labor market And the current interest rate policy is close to neutral, which should support the labor market to prevent significant deterioration.
“The idea is, now by cutting 75 points that are more recognized, and have a broad policy of broad neutral rates, which will be a refreshing place to stabilize or 2.
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Powell noted that payroll growth has slowed to an average of about 40,000 per month since April and that policymakers see an excess of about 60,000 of those 60,000 rates between those periods.
“I don’t think this is particularly controversial. It’s very difficult to measure job growth in real time, they don’t have everyone, we think the correction has been eight or nine years. We think that happened,” said Powell.
The two policy players are at odds over the Fed’s Rate Cut decision which is meant to leave interest rates unchanged across the economy, including the prospect of inflation.
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Chicago Fed President Austan Goolsbee said despite signs of a weakening labor market, more cuts appeared to be physical and inflationary. (Brendan MCERMD/REUTERS)
Chicago Fed Movel Austan Goolsbee It said in a statement that it “felt that the prudent course would have been to wait for more information.”
“If the labor market slows down quickly, it would be a different calculation. But most of the data that shows stable economic growth and the labor market is only cooling proportionally and with measures comparable to those in previous expansions,” said Goolsbee. “The environment that can be seen as ‘low / low rent’ is compatible with businesses that face continuous uncertainty rather than the cleanest of the business cycle.”
The Kansas City Fed president Jeffrey Schmid was also attacked by the rates of holding strong, writing that “the economy shows a lot, the Labor Market – although cooling – remains cool.”
The BLS is scheduled to release the November Jobs report on Tuesday, which the LSEG economic activity will show 40,000 jobs created in the month.
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BLS said it will not release a job report for the month of October, as its data collection activities were adversely affected by government shutdownand it was not certain to recollect that data once the shutdown ended in mid-November. More October data available will be included in the November report.
