CNBC Daily Open delivers a roundup of key financial news, including diverging opinions from Fed officials on the labor market's health and the pace of future interest rate increases. The report highlights remarks by Minneapolis Fed President Neel Kashkari, Atlanta Fed President Raphael Bostic, and Chicago Fed President Austan Goolsbee.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeafter last week's supersized rate cut."I think after 50 basis points, we're still in a net tight position," Kashkari told CNBC.
Atlanta Fed President Raphael Bostic was more circumspect."Progress on inflation and the cooling of the labor market have emerged much more quickly than I imagined at the beginning of the summer," he said at a separate event. That Bostic was possibly surprised by the increase in the unemployment rate is an indication some Fed officials are indeed worried the jobs market isn't as strong as it should be.
Last, in remarks to the National Association of State Treasurers, Chicago Fed President Austan Goolsbee said that"it's appropriate to increase our focus on the other side of the Fed's mandate — to think about risks to employment, too, not just inflation." Goolsbee sees"many more rate cuts over the next year" because the state of employment is a"through line on economic conditions." That suggests economic conditions need the support of many more rate cuts.The narrative the central bank has been on top of its game to ensure a soft landing, then, is very much intact.
Fed Interest Rates Labor Market Inflation Recession
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CNBC Daily Open: With all key data in, the Fed's policy path looks more uncertainWhile the Fed's rate cut cannot be predicted with certainty, even the widely expected 25 basis point cut will likely pull markets out of that September slough.
Read more »
CNBC Daily Open: After the Fed’s first cut, where to next?What many are not discussing is the policy trajectory after the Fed's meeting. Following this cut could be a trajectory that will change the market narrative.
Read more »
CNBC's Inside India newsletter: What happens when the Fed cuts rates?Inside India also has more on whether Gautam Adani, founder of the Adani Group conglomerate, could become a trillionaire.
Read more »
Harris victory seen as most likely election outcome, according to CNBC Fed SurveyThe survey was taken several days after the first and possibly only debate between Vice President Kamala Harris and Donald Trump.
Read more »
CNBC Producers Watch Defensive Sectors, Fed Rate CutsCNBC TV producers are watching defensive sectors outperform the S&P 500 amid anticipation of a potential Fed rate cut. The report also highlights key economic data releases scheduled for Wednesday.
Read more »
CNBC Daily Open: Nvidia's ‘drop-the-mic moment'Wall Street rallies on Powell’s rate cut signal. Intel calls in advisors for activist defense. China slams U.S. over export ban.
Read more »