Now that we know for certain just how poorly the Chair’s favorite indicator of labor market health is doing, it is fairly clear, as if wasn’t already, there will be no Fed action before next spring. It might, however, become necessary to clarify “no Fed action” to mean more than no rise in policy rates.
Now that we know for certain just how poorly the Chair’s favorite indicator of labor market health is doing, it is fairly clear, as if wasn’t already, there will be no Fed action before next spring. It might, however, become necessary to clarify “no Fed action” to mean more than no rise in policy rates.
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