Nick Timiraos
speaker
252 appearances
6 recordings
1 series
first heard Sep 2017
last heard Nov 2024
Nick Timiraos’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
The September jobs report was very strong.
And even after some downward revisions, we still added more than 200,000 jobs in September.
By the same token, the trend in the labor market has been one of
steadily slower growth.
Hiring rates are very low.
Firing has also been low, but hiring rates being low just tells you that there isn't as much demand for workers.
People are not changing jobs as much.
That's a sign of a cooler labor market.
So the puzzle, what gives first?
Does strong consumer spending lead the labor market to stabilize and for growth to stop slowing?
Or does slowdowns in labor income growth lead consumer spending to slow in the months ahead?
The direction of interest rates matters for longer-term borrowing costs.
So mortgage rates are a perfect example.
In September, mortgage rates fell a lot.
They came down from around 7% to 6%, not just because the Fed was making $1.
interest rate cut in September, but because investors were expecting a string of interest rate cuts.
In October, mortgage rates went back up because investors began to say, gee, maybe the Fed isn't going to cut so much.
So if the Fed does something different from what the market's expecting, if they were to not cut at their next meeting, you could actually see a bigger tightening in those borrowing costs.
So if the Fed does what's expected here, it means that borrowing costs shouldn't go up much more.
The one thing that markets are focusing on right now is does one party win complete control of Congress and the White House?
Showing 21–40 of 252 · page 2 of 13
← Previous
Next →