Dearth of official data won’t stop Fed from cutting
The weakness in various labour market indicators suggest the FOMC will vote for another 25bp cut next week, lowering the fed funds target range to between 3.75% and 4.00%. The threat of broader inflationary pressures from tariffs and a solid economy means easing at future meetings is not a given, however, and we suspect a hold in December is the more likely option.
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