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Non-farm Data Validates Powell and Bowman's Reason for Rate Cuts: Signs of Weakness in Labor Market
Summary: According to Jinshi's report, US labor data supports calls for monetary easing, causing US bond yields and the dollar to fall. Meanwhile, previous data has been significantly revised: May's new job additions were revised down from 144,000 to 19,000, and June's new job additions were revised down from 147,000 to 14,000. Prior to the employment ...
According to Jinshi's report, US labor data supports calls for monetary easing, causing US bond yields and the dollar to fall. Meanwhile, previous data has been significantly revised: May's new job additions were revised down from 144,000 to 19,000, and June's new job additions were revised down from 147,000 to 14,000.
Prior to the employment report release, Federal Reserve Board members Powell and Bowman, who held differing views, stated that signs of weakness were emerging in the labor market. This led to a sharp decline in response to the employment data.
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Link: Non-farm Data Validates Powell and Bowman's Reason for Rate Cuts: Signs of Weakness in Labor Market [Copy]
