NOTE – I meant for this to go ourt Friday Asai time … apologies for the delay …. my bad.
The U.S. labour market showed renewed strength in June, with non-farm payrolls exceeding expectations and suggesting the economy remains on solid footing despite recent signs of softness in leading indicators.
- “Today’s stronger jobs report confirms a still resilient U.S. labor market, defying, at least for now, the signs of weakness seen in some leading indicators,” said Goldman Sachs Asset Management in a client note.
The data supports the Federal Reserve’s case to maintain a “wait and see” approach, reinforcing the likelihood that policymakers will hold rates steady until clearer signs emerge on both inflation and economic momentum.
Goldman Sachs added that if summer inflation readings remain modest, the Fed could resume its easing cycle in the second half of the year. Markets are now watching upcoming CPI prints and wage data closely, with rate cut expectations tentatively pencilled in for later in 2025
