Labor market data will be a 'tipping point' for the Fed: Expert

from Challenger, Gray & Christmas. Senior vice president of Challenger, Gray & Christmas, Inc. Andrew Challenger joins Wealth! to discuss the state of the labor market and what it means for the Federal Reserve's rate cut path ahead.

Yeah, after a few months of falling job cuts uh through the summer from early spring, we've seen this big spike in August.It's an area that post COVID has continued to cut jobs at a higher rate than the rest of the industries out there. And you know, as we think about what was showing up in some of the ism manufacturing data, I mean, there's continued contraction that we're seeing within manufacturing right now.When do you expect to rebound and what's really going to take or is this a larger trend that has some inputs, whether that be technology based, that are gonna have much longer term ramifications?

But the fact that we're seeing some losses, there is a sign that we might be really approaching that tipping point where the FED, trying to balance their fight of inflation against rising unemployment is really going to be looking at closely for their next decision.WASHINGTON, September 05, 2024--In a groundbreaking convergence of technology and policy, two of the nation’s leading AI conferences are joining forces on the eve of a pivotal presidential election.

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