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NFP: Another Weak Report Could Cement a Fed Rate Cut This Month
Every month, we remind traders that the Non-Farm Payrolls report is significant because of how it impacts monetary policy. In other words, the Fed is the “transmission mechanism” between US economic reports and market prices, so any discussion about NFP should start with a look at the state of the US central bank. When it comes to the Fed, monetary policy is in flux: based on last month’s statement and economic projections, many central bankers wanted to pause rate cuts and see how the economy performed before deciding what to do next. The only problem? The economic data has taken a big turn for the worse in ... (full story)
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