Unemployment at 5% May Escalate Fed’s Rate Cuts: Macro Matters
The new supercore CPI to watch is the Bureau of Labor Statistic’s Quarterly Census of Employment and Wages, given US Federal Reserve Chair Jerome Powell’s comments on monthly non-farm payroll gains, says Anna Wong, chief US economist for Bloomberg Economics. Wong is joined by Macro Matters podcast host and Bloomberg Intelligence’s chief US rates strategist Ira Jersey to discuss key details and takeaways from the Federal Reserve’s 50-bp rate cut and accompanying policy announcement. The pair unpack the implications of changes in the Fed’s summary of economic projections as well as the outlook for the economy relative to current market pricing. They also discuss potential implications for monetary policy in the context of the upcoming presidential election.