Slowing labor demand will lead the Fed to deliver rate cuts later this year: JPMorgan's Kelsey Berro
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
an hour ago
- Bloomberg
Bill Dudley on Fed Disagreement, BLS Data Quality
Bill Dudley, former New York Fed President and Bloomberg Opinion columnist, says the degree of disagreement at the Federal Reserve is 'dramatically overstated,' as he discusses pressure on the Fed from the Trump administration. His opinions are his own. (Source: Bloomberg)
The Hill
an hour ago
- The Hill
Trump says he'll name BLS chief, Fed governor in coming days
President Trump told reporters Sunday he plans to announce a new commissioner for the Bureau of Labor Statistics in the next three or four days after he fired the previous BLS leader in the wake of a jobs report that found the labor market stalling. 'We'll be announcing a new statistician sometime over the next three, four days,' Trump said as he returned to Washington after a weekend at his property in New Jersey. Trump on Friday had ordered the firing of Erika McEntarfer, a Biden White House appointee who was confirmed with a bipartisan majority in the Senate in 2024. The move, which has sparked outrage among economists, Democratic lawmakers and others, came after the jobs report released Friday showed lower than expected hiring in July and major downward revisions to the jobs reports from May and June. The president also said he would be announcing a nominee to replace Federal Reserve Gov. Adriana Kugler, who announced Friday she will resign from the central bank's board Aug. 8. 'I have a couple of people in mind. I'll be announcing somebody for the filling of the person that left,' Trump said. 'A woman left, as you know, I guess a Biden or Obama appointment.' Kugler was appointed to the Fed board by former President Biden and confirmed in 2023. She will leave the bank six months before the end of her term in January 2026. While it's common for Fed governors to leave the bank before their terms expire, especially when they are not expected to be renominated, Kugler's exit comes as Trump has relentlessly pressured Federal Reserve chairman Jerome Powell and the rest of the governors to lower interest rates.
CNBC
an hour ago
- CNBC
NEC Director Kevin Hassett: The jobs data have become very unreliable
White House National Economic Council Director Kevin Hassett joins 'Squawk Box' to discuss President Trump's firing of the commissioner of the Bureau of Labor Statistics following a dismal jobs report, whether the jobs numbers are rigged, state of the economy, impact of tariffs, the Fed's inflation fight, strength of the labor market, and more.
