AdvertisementWe're not in a recessionTo determine whether the economy is in recession, it helps to first define the term.
Sure, the yearlong payrolls were adjusted down, but the story has largely been the same: This is a cooling but not collapsing labor market.
Despite the 50-basis-point interest-rate cut by Chairman Jerome Powell and the rest of the Fed, there's evidence of additional slowing in the labor market.
Since the rate cut, I've grown more confident that it will act in the face of weaker employment data.
If the labor market deteriorates and the unemployment rate increases, we ought not to rule out another 50-basis-point move.
Persons:
We're, —, Jerome Powell, there's, Powell, Stocks
Organizations:
Federal, National Bureau of Economic Research, Social Security, Conference
Locations:
America