The Federal Reserve’s survey of economic activity released Wednesday showed an economy that was expanding at a modest pace in the summer but facing the challenge of a tapped-out consumer and a slowing labor market.
There is less unanimity about what the Fed will do after that, at its November meeting.
Services inflation is still sticky, the economy may be growing faster than the Fed would like and the Chinese economy is in a slowdown.
“Fed Governor Christopher Waller told CNBC yesterday that recent labor market data, including a decline in job openings, moderating wage increases, and slower job growth in August are encouraging,” said Jose Torres, senior economist at Interactive Brokers.
Having said that, he left the door open for another rate hike because he doesn’t think one more would weaken economic growth significantly given risks remain tilted towards not doing enough.”
Persons:
”, “, ” Rhys Williams, Williams, Christopher Waller, Jose Torres
Organizations:
CPI, Management, Reserve, Dow Jones, “, CNBC, Interactive
Locations:
“, Saudi Arabia, Russia