Jobs data is already 'fraying' and the Fed is about to make a mistake by hiking rates again, economist says
The labor market is already starting to fray, and the Federal Reserve is about to make a mistake by hiking rates one more time, according to Pantheon's chief economist Ian Shepherdson.
"Stepping back from the details of the jobs numbers, which are subject to potentially large revisions, the key message from the revised data is that the trend is still slowing, relentlessly," Shepherdson said. A key threshold will be when payroll gains drop below 100,000 a month and the unemployment rates ticks higher, he said.
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