Fed won’t cut rates until labor market cracks: Strategist

The November jobs report will be released on Friday, December 8th. It comes just one week before the Federal Reserve makes its next rate decision on the 13th. Wall Street thinks the Fed will continue to pause at this meeting, with some hoping that cuts could come in the first half of 2024. But Northwestern Mutual Wealth Management Company CIO Brent Schutte says he doesn’t think the Fed will cut until they see the “labor market crack.” Overall, Schutte thinks a soft landing for the US economy is “unlikely,” adding that rate cuts are unlikely to happen unless there is a recession.
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