Santander Bank: If the employment data in August is strong, the Federal Reserve may abandon the idea of a 50 basis point rate cut

ChainCatcher news, according to Jinshi reports, in his speech at the Jackson Hole conference, Federal Reserve Chairman Powell emphasized the importance of U.S. employment data for the upcoming monetary easing cycle.

Stephen Stanley of Santander Bank stated in a report that this increases the significance of the employment data for August, which will be released on September 6. He mentioned that after the unexpectedly low job growth in July, "the growth in August is not entirely shocking. More broadly, Powell and others at the Fed have recently begun to express concerns about the cooling conditions in the labor market, so stronger data in August could dispel the idea of a 50 basis point rate cut next month." Stanley believes that the employment report may be more critical than the August core CPI data.