Economic Update - October 2019
Despite slashing rates at their last two meetings, Fed officials continue to contend with a slowing labor market and increased pessimism surrounding the U.S.-China trade war.
Another interest rate cut could be in the cards at the Federal Reserve’s late-October meeting. Despite slashing rates at their last two meetings, Fed officials continue to contend with a slowing labor market and increased pessimism surrounding the U.S.-China trade war. In September, job creation in the U.S. fell to the lowest level in five months and wage growth declined, even as the unemployment rate hit a 50-year low. Additionally, recent surveys suggest that the slowdown in the manufacturing sector may be spreading other areas of the economy.
Watch this month’s Economic Video Update with Robert Spendlove, Economic and Public Policy Officer for Zions Bank, as we discuss the current economic conditions.
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