JPMorgan Chase: Without non-agricultural data, the Federal Reserve can cut interest rates in October with confidence."
Internet reports that due to the government shutdown, the U.S. Bureau of Labor Statistics is not expected to release its non-farm payrolls report on Friday. However, a number of recently released private sector indicators showed weak hiring, limited layoffs, moderate wage growth and easing labor demand in September. The data is generally consistent with the low hiring and layoffs before the suspension of government data release. Michael Feroli, chief U.S. economist at JPMorgan Chase & Company, said: "Even without the non-farm payrolls report, we can have a rough idea of the state of the labor market. Given what we've seen, I think the Fed can safely cut interest rates later this month." (Jin Shi)
Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.