US payrolls too hot for the Fed?
More jobs than expected in US payrolls numbers last week. NAB’s Rodrigo Catril says it has pushed back expectations of a rate cut by the Fed.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Monday 8th April 2024
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US non-farm payrolls showed many more new workers than expected last month, but an increase in the participation rate meant the unemployment rate actually fell. Phil asks NAB’s Rodrigo Catril why the numbers have pushed back market expectations for a rate cut by the Fed. He says, surely they’d be happy to see a broader workforce because it would ease wage inflation pressures? There’s also discussion on rising commodity prices, the record price of gold and yet a falling Australian balance of trade. Three central banks meet in the week ahead. Listen in for more.
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