Summers Says Jobs Weakness Makes It Closer Call on Fed Going 50
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Former Treasury Secretary Lawrence Summers said that while the August employment report wasn’t particularly poor, it did make predicting the size of the Federal Reserve’s likely interest-rate cut this month a tougher call.
“The numbers certainly didn’t show hugely pronounced weakness, but if you were concerned by the recent trend in the statistics, they certainly didn’t give you a clean bill of health for the economy,” Summers said on Bloomberg Television’s Wall Street Week with David Westin. “It’s looking like a closer call for 25 versus 50 in September than was my guess a month or two ago.”