- Since last Fed meeting available data suggests not much change, inflation not a big problem with labour market weak
- January will be tricky with a flood of data coming to indicate whether another cut is appropriate, need a meeting by meeting approach
- Still do not think labour market will turn around in the next few weeks
- September jobs number likely to be revised down; fact that is was concentrated is not a good sign
- No anecdotal evidence that firms are about to go on a hiring spree
Fed’s Waller has been dovish since April and it’s not surprising for him to advocate for a December cut given his recent comments.
This article was written by Giuseppe Dellamotta at investinglive.com.
