Jamie Cox, managing partner of Harris Financial Group, said that the U.S. labor market remains strong but is gradually cooling. Given the sharp revision of the previous non-farm payrolls report, I expect the Fed to return to rate cut mode in July. Salaries are stable at the moment, but they are likely to change in the coming months. The biggest variable in the job market is real estate, which has already shown early risk signs and will be exacerbated by a cooling labor market.
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Institution: The Federal Reserve (FED) is expected to restart its rate cut mode in July.
Jamie Cox, managing partner of Harris Financial Group, said that the U.S. labor market remains strong but is gradually cooling. Given the sharp revision of the previous non-farm payrolls report, I expect the Fed to return to rate cut mode in July. Salaries are stable at the moment, but they are likely to change in the coming months. The biggest variable in the job market is real estate, which has already shown early risk signs and will be exacerbated by a cooling labor market.