- U.S. job growth slowed more than expected in April and annual wage gains cooled, signs of a looser labor market which are good news for markets and the Federal Reserve that will likely require more such signals before pivoting from a higher for longer policy.
“The Fed's looking for data points that pull them back away from this tighter-for-longer thought process. The one caveat would be that the labor market reports are notoriously fickle and what we see this month might not be what we turn around and see next month. It gives the Fed some hope, but it does not establish the trend for them.”“This report is not too hot not too cold and it’s just what the Fed wants to see.
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