📈 The US jobs report holds the Federal Reserve's path and pushes it towards a potential cut in December
Economists on Wall Street reported that the delayed US jobs report for September complicates future interest rate estimates and makes the Federal Reserve's decision in December more challenging.
According to Michael Feroli, the chief US economist at JPMorgan, the next decision from the central bank is "closer than even last September," adding that there are expectations to delay any cut until January and May before stopping.
The employment report showed that the US economy added 119,000 jobs in September, surpassing estimates of 51,000 jobs, despite downward revisions to summer data. The unemployment rate also rose slightly from 4.3% to 4.4%, and the labor force participation rate increased to 62.4%.
John Williams, President of the Federal Reserve Bank of New York, indicated that a rate cut is still on the table soon, explaining that monetary policy is "modestly constrained" and that there is room for another adjustment to bring the policy stance closer to the neutral range.
#اقتصاد #الوظائف_الأمريكية #الاحتياطي_الفيدرالي
