The case for more Fed rate cuts could rest on a 'systematic overcount' of jobs numbers
By Jeff Cox
"With the Fed's most influential members keeping a keen eye on the unemployment rate, we think that as long as labor demand wanes and [the] unemployment rate increases, the path will be cleared for additional cuts, despite the vocal opposition from the hawks," Natixis economist Christopher Hodge said in a note.
"Because we see the unemployment rate rising through Q1 2026, we think the Fed will continuing cutting to arrest further softening in the labor market," Hodge added, noting that "we think a cut in January is more likely than not."
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