Weak Jobs Data Favors Another Fed Rate Cut In December… Maybe

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EU OFFICIALS WEIGH ALTERNATIVE TO FED DOLLAR BACKSTOPS European financial officials are discussing a plan to pool dollar reserves held by non-U.S. central banks to reduce reliance on the Fed. The move follows concerns that, under Trump, U.S. dollar facilities could be…

*FED'S HAMMACK SAYS INFLATION IS STILL TOO HIGH AND MOVING UP Fed's Hammack: The employment side of the Fed mandate challenged amid job market softening. FED'S HAMMACK: EXPECTS TARIFFS TO DRIVE UP INFLATION INTO EARLY NEXT YEAR Fed's Hammack: Labor market appears broadly balanced. Fed's Hammack: Monetary policy is currently barely restrictive, if at all.

Fed's Musalem: It's critical to return to having readily available official data that has integrity. We're not flying blind, though. Fed's Musalem: Uncertainty is causing firms to pull back on hiring. MUSALEM: AI APPEARS TO BE ADDING TO PRODUCTIVITY AND DISPLACING WORKERS DOUBTFUL THAT MOST ANNOUNCED LAYOFFS ARE AI, MORE LIKELY PLAIN VANILLA AUTOMATION OBSERVING LABOR MARKET RISKS, HIGH INFLATION AND RISKS 40 - MUSALEM: ECONOMY IS PRETTY RESILIENT EXPECT 4Q WEAKNESS,… MUSALEM: SUPPORTED RATE CUTS SO FAR TO PROTECT LABOR MARKET MUSALEM: NEED TO PROCEED WITH CAUTION NOW