Lates News

RSM US chief economist Joseph Brusuelas: "The 'low-hire, low-fire' US labor market remains our baseline, and we expect hiring to remain soft in the months ahead. The slight rise in the unemployment rate was mostly statistical noise that is not statistically significant, and 'full employment' remains the best description of the US labor market right now. Soft hiring growth and volatility in the size of the US domestic labor force should bolster the case within the Fed for holding the federal funds rate steady at the upcoming October meeting. The September data indicate little to no risk of a second round of inflation from rising wages. In fact, the Fed is not worried at all about the employment leg of its mandate right now. Our baseline for the path of monetary policy remains: no hike in October, a 25 basis point hike in December, followed by another 25 basis point hike in March 2027."