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Fed's Logan: Why I’ll be cautious about further rate cuts
It is a pleasure to welcome you all to the Dallas Fed and to thank you for sharing your perspectives with us. The insights you share help me form my assessment of our region’s economy and shape my overall outlook. The U.S. economy is at a key moment for monetary policy. More than four years after the postpandemic inflation surge began, inflation remains above the 2 percent target set by the Federal Open Market Committee (FOMC). At the same time, payroll job growth slowed markedly this year. Against this backdrop, the FOMC recently voted to cut interest rates for the first time in nine months, and FOMC ... (full story)
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Private sector employment shed 32,000 jobs in September and pay was up 4.5 percent year-over-year according to the September ADP National Employment Report® produced by ADP Research in collaboration with the Stanford Digital Economy Lab ("Stanford Lab"). The ADP National Employment Report is an independent measure of the labor market based on the anonymized weekly payroll data of more than 26 million private-sector employees in the United States. ADP's Pay Insights captures nearly 14.8 million individual pay change observations each month. Together, the jobs report and pay insights use ADP's fine-grained data to provide a representative and high-frequency picture of the private-sector labor market. *(US) SEPT ADP EMPLOYMENT CHANGE: -32K V +51KE; Includes preliminary rebenchmarking of the National Employment Report; Notes U.S. employers have been cautious with hiring - Prior revised lower from +54K to -3K (More at ) 
Private payrolls declined in September by 32,000 in key ADP report coming amid shutdown data blackout Private payrolls saw their biggest decline in two-and-a-half years during September, a further sign of labor market weakening that compounds the data blackout accompanying the U.S. government shutdown. Companies shed a seasonally adjusted 32,000 jobs during the month, the biggest slide since March 2023, payrolls processing firm ADP reported Wednesday. Economists surveyed by Dow Jones had been looking for an increase of 45,000. In addition to the drop in September, the August payrolls number was revised to a loss of 3,000 from an initially reported increase of 54,000. The report comes as the funding impasse in Washington, D.C. has led to the first government closure since late 2018 int
Private payrolls declined in September by 32,000 in key ADP report coming amid shutdown data blackout Private payrolls saw their biggest decline in two-and-a-half years during September, a further sign of labor market weakening that compounds the data blackout accompanying the U.S. government shutdown. Companies shed a seasonally adjusted 32,000 jobs during the month, the biggest slide since March 2023, payrolls processing firm ADP reported Wednesday. Economists surveyed by Dow Jones had been looking for an increase of 45,000. In addition to the drop in September, the August payrolls number was revised to a loss of 3,000 from an initially reported increase of 54,000. The report comes as the funding impasse in Washington, D.C. has led to the first government closure since late 2018 int
CHI FED'S GOOLSBEE Q&A/AG CONF: JOB MKT AT FULL EMPLOYMENT, GDP HEALTHY BUT TARIFFS CREATED 'HAIR ON FIRE' MOMENT; NOW GOING INTO NEW WAVE OF TARIFFS #Goolsbee #FederalReserve #economy *GOOLSBEE: HOPING FOR MODEST, ONE-TIME IMPACT FROM TARIFFS *GOOLSBEE: IF INFL. MORE PERSISTENT, WOULD BE DIFFICULT SCENARIO *GOOLSBEE: SHORT GOV. SHUTDOWNS HAVE LITTLE IMPACT ON ECONOMY
Boston Federal Reserve President Susan Collins on Tuesday expressed support for the recent interest rate cut, but showed some skepticism on the extent of future moves as she sees continued threats from inflation. Speaking in New York, the central bank policymaker noted risks to both higher inflation and a softening labor market that are keeping officials on ...
