"Home run" level U.S. employment statistics, easing the burden on the Federal Reserve - concerns about the labor market recede.

October 5, 2024 8:56 JST (excerpt)
In light of the strong statistics surpassing expectations, the expected interest rate cut for November is now anticipated to be 0.25 points.
Shuryatieva from the USA Economy said, "The basis for a soft landing is strengthening."

With the strong September employment statistics exceeding financial estimates, concerns surrounding the labor market have receded, giving the financial authorities room to continue lowering interest rates at an even more gradual pace over the next few months. Pressure on the authorities has been alleviated.
Following the statistical announcement which JP Morgan Chase corp's Chief Economist for the USA Michael Feroli referred to as a "home run," speculations by economists and investors about a significant rate cut at the November 6-7 Federal Open Market Committee (FOMC) meeting following the 0.5 percentage point reduction in September from the financial authorities have almost immediately diminished.