Stronger-than-expected U.S. jobs figures and GDP data have highlighted a key risk to the Federal Reserve potentially taking its foot off the monetary brake.
Stronger-than-expected U.S. jobs figures and GDP data have highlighted a key risk to the U.S. Federal Reserve potentially taking its foot off the monetary brake.
Patrick Armstrong, chief investment officer at Plurimi Group, told CNBC last week that there was a double-sided risk to current market positioning. Stronger-than-expected U.S. jobs figures and gross domestic product data have highlighted a key risk to thepotentially taking its foot off the monetary brake. Economic resilience and persistent labor market tightness could exert upward pressure on wages and inflation, which is in danger of becoming entrenched.
As the Fed earlier this month implemented its 10th increase in interest rates since March 2022, raising the Fed funds rate to a range of 5% to 5.25%, Chairman Jerome Powell hinted that a pause in the hiking cycle is likely at the FOMC's June meeting.
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