Wall Street predicts that U.S. job growth will be revised down, which may prompt the Fed to cut interest rates more sharply in September
Wall Street predicts that job growth will be revised down sharply. Estimates range from 600,000 jobs to a record 1 million. Assuming Wall Street is right, this conclusion will show that the labor market is not as strong as it seems, and it is cooling much faster than thought. Economists say that if the downward revision of the data is large enough, it may prompt the Federal Reserve to make a larger interest rate cut in September than Wall Street currently expects, and may also lead to faster interest rate cuts in the coming months.
