Asked about job benchmark revisions, says data overall tells a consistent storyLabor market overall is quite healthy and we want to preserve thatUnemployment is still low and jobless claims indicate orderly rebalancingLabor market overall is quite healthy and we want to preserve thatSoon is appropriate to begin cutting ratesA gradual and methodical pace of cuts is likely to appropriate once we are in a different policy stanceStill see quite a bit of resilience among consumers, also stress pockets thoughPreserving a healthy labor market is a priority
This is an important point and suggests the Fed will be on auto-pilot once it starts cutting, likely by 25 bps every meeting until 3.50% or 3% barring any surprises.
This article was written by Adam Button at www.forexlive.com.
