Santander Bank: If August employment data is strong, the Fed may give up the idea of ​​cutting interest rates by 50 basis points

In his speech at the Jackson Hole conference, Federal Reserve Chairman Powell stressed the importance of U.S. employment data for the upcoming monetary easing cycle. Stephen Stanley of Santander Bank said in a report that this increases the importance of August employment data, which will be released on September 6. He said that after unexpectedly sluggish employment growth in July, "August's growth will not be completely shocking. More broadly, Powell and others at the Fed have recently begun to express concerns about cooling labor market conditions, so stronger data in August may 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. (Jinshi)