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What Job Numbers This Friday Will It Take For The Fed To Cut by 50bps
Earlier this week, we laid out a case why the coming Sept 9 Preliminary Benchmark Announcement of labor market revisions could shock the Fed, and force a jumbo 50bps rate cut similar to last year for one simple reason: the revision could be just as big as last year, and as Powell explained, the massive 818K revision in 2024 was one of the primary reasons for the unexpectedly large rate cut 2 months ahead of the election. And the last thing the Fed chair would want, is to look political (cough) and prompt questions why he doesn't do another jumbo rate cut if he is faced with a similar jobs revision. But what is we ... (full story)
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