The Federal Reserve should cut rates swiftly – recession or not

Quick Summary:

Last Friday’s weaker-than-expected jobs report has sparked a robust debate about whether the US economy is sliding into recession or whether the rise in the unemployment rate in July was due to a continuing post-pandemic normalisation of the labour market.

The hiring rate has already slumped to levels that suggest employers feel no compulsion to add to their payrolls.

The jobless rate has climbed this year from 3.7% to 4.3%, but the percentage of people between the ages of 25 and 54 who are employed has also risen, from 80.4% to 80.9%.

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Article Details

Author / Journalist: CONNOR SEN

Category: EconomyBusiness

Markets: MalaysiaMali

Topics: USEconomy Commentary FedPolicy LabourMarket /Business/Insight InflationControl MonetaryPolicy InterestRates RecessionFears EconomicOutlook

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-07 @ 00:00:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 515 words

Reading Time: 3 minutes read

Sentences: 27 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21960493

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 75 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 1 hours ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #22

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