Labor Market Recap April 2024: What Reacceleration?
The data is consistent with those hoping for a soft landing—and soft landing cuts.
The data is consistent with those hoping for a soft landing—and soft landing cuts.
Every member that's spoken since the March meeting has expressed both a further desire to be patient on starting rate cuts (in response to the inflation data) and confidence that holding rates steady for longer will, on the margin, come with less downside risk to the labor market.
Fed officials across the board are now saying that the last three months of inflation data have pushed back the timing for rate cuts.
In the wake of a hot CPI print, members openly pushed back the timeline for cuts.
A lot of Fedspeak this week, but not too much new was revealed. Committee members mostly confirmed what we thought their positions were.