Jobs report doesn't 'move the needle' on rate cuts: Strategist
03/08/2024 23:44
February's jobs reports exceed expectations — 275,000 jobs were added to the US economy — the national unemployment rate rose. Charles Schwab Chief Investment Strategist Liz Ann Sonders describes the jobs print as "a dead heat," stating that it offers "something for everyone." Joining Yahoo Finance, Sonders highlights that the report "was chock full of data" that supports both hawkish and dovish perspectives out of the Federal Reserve, saying it "doesn't move the needle in one direction or another" in terms of official's timeline for interest rate cuts. However, Sonders notes that a Fed rate cut in May still appears "a little bit premature" unless the forthcoming Consumer Price Index (CPI) and Producer Price Index (PPI) data provide investors with "a much more dovish read." She acknowledges that a rate cut is more likely to occur in June, but ultimately, it remains "data-dependent." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
February's jobs reports exceed expectations — 275,000 jobs were added to the US economy — the national unemployment rate rose. Charles Schwab Chief Investment Strategist Liz Ann Sonders describes the jobs print as "a dead heat," stating that it offers "something for everyone."
Joining Yahoo Finance, Sonders highlights that the report "was chock full of data" that supports both hawkish and dovish perspectives out of the Federal Reserve, saying it "doesn't move the needle in one direction or another" in terms of official's timeline for interest rate cuts.
However, Sonders notes that a Fed rate cut in May still appears "a little bit premature" unless the forthcoming Consumer Price Index (CPI) and Producer Price Index (PPI) data provide investors with "a much more dovish read." She acknowledges that a rate cut is more likely to occur in June, but ultimately, it remains "data-dependent."
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Angel Smith