Economists See Faster Labor Cooling, Steeper Fed Cuts in Survey
- Unemployment estimate rises to highest level since November
- Poll suggests Fed’s behind the curve in cutting interest rates
Attendees at a career fair at a community college in Bolivia, North Carolina.
Photographer: Allison Joyce/BloombergThis article is for subscribers only.
A labor market softening more so than previously thought should spur faster and steeper interest-rate cuts by the Federal Reserve, according to the latest Bloomberg monthly survey of economists.
The unemployment rate is expected to peak at 4.4% by the end of this year and stay at that level through mid-2025, while economists in the August survey also see more moderate payrolls growth than they did a month ago.