The Fed is going to cut interest rates by 50 basis points in December, Citi economist Veronica Clark said.
Labor market weakness is showing across a number of data points, she said.
According to Veronica Clark, deteriorating labor dynamics will force the central bank to cut rates by 50 basis points in December.
Her point has grown more evident after October's jobs report underwhelmed expectations with only 12,000 jobs added.
AdvertisementThough October's unemployment rate stayed unchanged on a rounded basis, Clark noted that it was it nearly rounded to 4.2%.
Persons:
Veronica Clark, It's, Clark, —, Reserve isn't
Organizations:
Citi, Labor, Service, Reserve, Bloomberg