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Institutions: Non-farm data, good or bad, could be a reason for Trump to urge rate cuts
Summary: According to financial news provider Newsquawk, it is expected that the US non-farm payroll employment in June will increase by 129,000, with the unemployment rate expected to remain unchanged at 4.2%, the average hourly earnings rate expected to decrease from 0.4% to 0.3%, and the average weekly working hours expected to remain unchanged at 34.3 ...
According to financial news provider Newsquawk, it is expected that the US non-farm payroll employment in June will increase by 129,000, with the unemployment rate expected to remain unchanged at 4.2%, the average hourly earnings rate expected to decrease from 0.4% to 0.3%, and the average weekly working hours expected to remain unchanged at 34.3 hours.
Powell has stated that the labor market remains strong, but he acknowledges a 'very slow cooling' that is not worrisome; Powell also pointed out that strong job creation and labor force participation are signs of continued economic recovery. This sentiment has been echoed by other officials. Nevertheless, any 'not too bad' employment data could be seized upon by Trump as a reason for the Fed to cut rates; however, any unexpected downturn in labor data could also be used by Trump as a reason for the Fed to cut rates.
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Link: Institutions: Non-farm data, good or bad, could be a reason for Trump to urge rate cuts [Copy]
