Labor market to determine size of September Fed rate cuts: Deutsche Bank

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Labor market to determine size of September Fed rate cuts: Deutsche Bank

Recent statements by Federal Reserve officials signaled that a rate cut in September is likely “a done deal,” although the magnitude of the reduction remains uncertain and data-dependent, Deutsche Bank economists said Monday

“The time has come for policy to adjust,” Powell stated during his keynote address at the Fed's annual Jackson Hole retreat in Wyoming. “The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.” “Inflation has declined significantly. The labor market is no longer overheated, and conditions are now less tight than those that prevailed before the pandemic,” Powell said. “Supply constraints have normalized. And the balance of the risks to our two mandates has changed.”

 

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