President Trump said he wouldn’t fire Federal Reserve Chairman Powell, but the pressure for rate cuts continues. The market, however, is still betting that the central bank will stand firm and leave its target rate steady at Wednesday’s policy announcement.
Daily Archives: May 5, 2025
Macro Briefing: 5 May 2025
The US unemployment rate was steady in April at 4.2% and nonfarm payrolls rose increased a seasonally adjusted 177,000 last month. “We can push recession concerns to another month. Job numbers remain very strong, suggesting there was an impressive degree of resilience in the economy in play before the tariff shock,” said Seema Shah, chief global strategist at Principal Asset Management. “The economy will weaken in the coming months but, with this underlying momentum, the U.S. has a decent chance of averting recession if it can step back from the tariff brink in time.”
