The Fed can't ignore the labor market any longer: BCA

The Federal Reserve “can’t ignore the labor market any longer,” BCA Research said in a Friday report.

Despite the lack of such a signal, BCA highlights that the Fed “no longer has the luxury of focusing purely on inflation." BCA also pointed out the monthly nonfarm payroll numbers, which show a decisive downshift in momentum. The economy added 206,000 jobs in June but with significant downward revisions to the prior two months.

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Fed officials are getting more concerned about the labor marketFederal Reserve (Fed) Chair Jerome Powell said recent data suggest that they’re getting back on a disinflationary path and that unexpected labor market weakening could prompt a policy reaction, BBH macro analysts note.
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