If the last two FOMC meetings have marked turning points, the latest confirmed the new status quo. Once again, without committing to any of the actions that financial markets expect in the future, the Fed nonetheless delivered what was expected of this particular meeting. The noncommittal language in the FOMC statement continues to be interpreted as the Fed having no objection to further rate cuts.
The technical details of the day were straightforward, and close to expectations, but they were numerous:
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.