Waiting on a knife edge
Non-farm payrolls later today will determine the next Fed rate cup. NAB’s Ray Attrill reckons if the numbers come in as expected that’ll point to a 25bp cut. If its softer a 50bp will be more likely.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Friday 6th September 2024
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We are less than a day away from the US non-farm payrolls numbers, which are likely to determine whether the Fed cuts interest rates by 25bp or 50bp at this month’s meeting. NAB’s Ray Attrill says if the numbers are in-line with expectations he reckons that’ll solidify pricing for a 25bp cut, but anything weaker would push expectations towards 50bp. It’ll be interesting to see the take of two prominent Fed speakers – Williams and Waller - a couple of hours after the event. Meanwhile Michelle Bullock reiterated the need to keep rates high to fight inflation, arguing that inflation does more damage than higher rates.
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