Newscasts - Delay of jobs report won't derail Fed rate cuts, wealth advisor says

Ameriprise Financial

03/10/2025 21:27

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_z2hj4laz&referenceId=tag:reuters.com,2025:newsml_RW041203102025RP1_930&pageId=Newscasts
Source: 'Reuters - Business videos'

Description: Nancy Daoud, CEO and private wealth advisor at Opus: Advice First of Ameriprise Financial, said the suspension of Friday's nonfarm payrolls report from the U.S. Labor Department, due to the government shutdown, should not prevent the Federal Reserve from cutting interest rates two more times this year.

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Video Transcript:

Well, it looks like we're not going to get our job report today mainly because of the government shutdown. But the reality is that even when we do receive it, there's maybe a knee jerk, very quick knee jerk reaction and then everything sort of reverts back to normal because we have discovered that much of the data is not 100% accurate. So, there's a lag time until it actually is updated. We believe that the Fed will likely cut rates again at least two more times before the year end. I think all the economic data is solid enough, especially the inflation data, which is what the Fed is looking at. Unless, again, a drastic difference in the job report shows up, I don't know that that will derail the Fed cuts.