The strong labor market report should give the Fed a reason to alter rate guidance.
The Federal Reserve is charged by Congress with conducting monetary policy in such a way as to promote full employment and stable prices. The data released in the last three months reflect a strong movement towards full employment. The labor market report for July was strong with nonfarm payrolls increasing by 943,000 and the unemployment rate dropping to 5.4%. The household surveyreported even more with those working increasing by over one million for the month.
PROBANK AUSTIN ADVISOR - AUGUST 9, 2019