Market panic over US economy – Commerzbank

Friday's US jobs report provided more fodder for critics who say the Fed missed the right time to cut interest rates for the first time. Job growth in July was much weaker than expected, June's figure was revised downwards and the unemployment rate rose from 4.1% to 4.3% – ultimately triggering the Sahm rule, Commerzbank’s FX strategist Michael Pfister notes. Two Fed rate cuts in September and November “The release was followed by a flurry of action.

There has even been talk of an emergency cut ahead of the September meeting.” “Fortunately, after this exciting week, we should be in for a quieter few days. Hopefully, once the excitement has settled a little, market participants will realise that expectations have gone a little too far. I'm not saying that the jobs report didn't give me cause for concern. Clearly, the labour market has weakened in recent months, which does not bode well for the US growth advantage.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Texas’ economic growth is cooling off amid slowing labor market, fed report saysTexas’ economy has seen continuous outsized growth in recent years. But the state’s economic projections are beginning to soften, according to the Federal...
Source: dallasnews - 🏆 18. / 71 Read more »

Over $500 Billion Gone From Crypto Markets Since Friday: Here Are the Biggest Losers (Market Watch)Crypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Jim Cramer's top 10 things to watch in Friday's rough stock marketWall Street was tracking for an ugly open Friday as a weak jobs report exacerbated recession fears.
Source: CNBC - 🏆 12. / 72 Read more »

5 things to know before the stock market opens FridayHere are five key things investors need to know to start the trading day.
Source: nbcchicago - 🏆 545. / 51 Read more »