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.
Most of the Personal Consumption Expenditures (PCE) inflation gauges are sourced from Consumer Price Index (CPI) data, but Producer Price Index (PPI) input data is of increasing relevance,...