Stinted US Labour Market Growth May Hamper Rate Cuts
Weaker-than-believed US labour market growth is reportedly fanning scepticism about the US Federal Reserve’s likelihood to cut interest rates in September 2024. Bloomberg reported that economists from Goldman Sachs (GS) and Wells Fargo & Company (WFC) expect that preliminary labour revisions will reflect a 600,000 weaker payroll growth in the year leading up to March…