The September FOMC meeting is emblematic of the Powell Fed so far: the rate decision has been so carefully broadcast as to be nearly moot, and investors are mostly focused on the outlook for future rate decisions. In many ways, this meeting has a midstream feel – rates are on the move, important committee membership changes are underway, and debate within the Fed over the outlook is heating up. Market participants would be well advised to savor the no-brainer rate hike, because there may not be many more of them. If the near-term looks clear, the medium-term looks anything but.
What’s at stake
As iCIMS’ former chief economist, Josh Wright led a team of data scientists in analyzing emerging trends in the U.S. labor market. With publications ranging from academic journals to national media, Wright previously served as a U.S. economist with Bloomberg L.P., and was a staff researcher at the Federal Reserve.