If jobs market strength persists, Wells Fargo Securities Michael Schumacher isn't ruling out a 2020 interest rate hike — especially if the Federal Reserve decides to add one more insurance cut early next year.
According to Schumacher, if Washington and Beijing resolve the trade war, earnings improve and the economy keeps growing, the Fed could decide to raise rates toward the end of next year. He referenced the latest major economic report which came from the Labor department: the blowout jobs report.while the unemployment rate dropped to 3.5%, the lowest level in 50 years. It's evidence that suggests the economy is stronger than the Wall Street consensus thinks.
"If you look at the average over the last six months, it's [non-farm payrolls] still plus-140k and change. It's pretty darn good," said Schumacher. "Maybe it's a little bit too good, frankly, as far as print."
trading LOL
trading Good luck with that 😆 Wall St won’t allow it. Gotta keep that illusion going through elections.
trading Definitely would be a surprise. Some of those loading up on muni bonds and LEVERAGE would be on the wrong side of that bet if this were to happen.
trading Can't imagine them hiking rates during a global slowdown.
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