1107 ET - After a strong September jobs report, some analysts have gravitated toward the idea that the Fed might skip a rate cut at one of its two remaining meetings this year. Neil Dutta of Renaissance Macro Research thinks that's unlikely. "The labor markets are not out of the woods," he writes. Mortgage rates have moved higher again, which risks stalling out the housing market. Then there are the strikes at Boeing, a drag on aircraft production which had contributed a surprisingly large share to GDP. Add to that the still-high costs for businesses to borrow and the Fed's tough job of managing market expectations, and at least two more cuts this year is the most likely path, Dutta writes. (matt.grossman@wsj.com, @mattgrossman)
(END) Dow Jones Newswires
October 14, 2024 11:07 ET (15:07 GMT)
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