Economists expect the Federal Reserve to rule out murmurs and cut interest rates by 25 basis points next Thursday
U.S. employment growth slowed sharply in October, but the unemployment rate held steady at 4.1%, providing reassurance that the labor market remains on solid footing ahead of next Tuesday's election. The unemployment rate is not distorted because striking workers are counted as employed in the household survey, which is the basis for arriving at the unemployment rate. Workers who are unable to work due to inclement weather would be reported as employed, “working, but not on the job,” according to the Bureau of Labor Statistics classification. Economists expect the Fed to rule out the noise and cut rates by 25 basis points next Thursday.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.