Reported 25 days ago
The Federal Reserve is anticipated to reduce short-term borrowing rates by 25 basis points at its upcoming meeting after recent data revealed only 12,000 new nonfarm jobs were added in October, the lowest since December 2020. This disappointing figure was attributed to factors like the Boeing strike and significant hurricanes affecting the Southeast. Despite the labor market's apparent cooling, the unemployment rate remains low at 4.1%, but the longer duration of unemployment and a decline in the labor force raise concerns. Market expectations suggest further cuts are likely as the Fed assesses ongoing economic conditions.
Source: YAHOO