Federal Reserve Could See a Million Jobs Vanish in Downward Revision
The Federal Reserve could be set to see as many as a million US jobs completely vanish in what would be the largest downward revision in 15 years. Indeed, a Bloomberg report notes that job growth through March was far less robust than initially estimated,” preceding the potential revision. The Federal Reserve faces concerns that it is behind the curve in curing interest rates. Currently, they are slated to cut the 23-year high rates at their September meeting. Yet, the revised employment data would be a concerning development. Specifically, questioning the Fed’s approach to this point. JUST IN: Feds face "up to a million" US jobs "vanishing" in potentially the largest downward revision in 15 years, Bloomberg reports. — Watcher.Guru (@WatcherGuru) August 20, 2024 Also Read: Federal Reserve Leaves Interest Rates Unchanged in July 2024 Fed Faces Largest Downward Revision to US Jobs Data in 15 Years Source: Brookings Institute There is no denying the fragility of the c...