Economics
Fed Seen Pushing Ahead With November Taper Despite Payroll Miss
- Jobs likely meet the test for ‘substantial further progress’
- Wage growth, unemployment rate suggest job-market tightness
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Federal Reserve policy makers will likely look through September’s weakening in the U.S. labor-market recovery and take their first step to removing pandemic stimulus at their meeting next month.
“This does not change the Fed’s taper timeline,” said Rubeela Farooqi, chief U.S. economist with High Frequency Economics. “For the Fed taper, the standards on both inflation and the labor market have likely been met. However, that says little about policy tightening, which has a much more stringent test and is some time off.”