US President Joe Biden in his recent speech gave a heads-up about the Fed’s rate cuts. According to a Reuters report, President Biden stated on Friday that he thinks the Federal Reserve will cut interest rates. Using the Fed as a metaphor for “that little outfit that sets interest rates,” Biden stated during a campaign address, “I can’t guarantee it but I bet you those rates come down.” The statement has now cemented beliefs that if economic data allows and conditions are persistent, the Federal Reserve might start cutting rates sooner than expected.
Rate Cuts Could Happen Soon, Shows US Jobs Data
According to Yahoo Finance, The US economy produced more new jobs in February than anticipated, but there were indications of a softening in the US labor market in the form of a four-monthly increase in the unemployment rate and downward revisions to job growth in previous months.
The labor market gained 275,000 nonfarm payroll jobs in February, according to data from the Bureau o
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