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   From: nospam@ix.netcom.com   
      
   Former U.S. Treasury Secretary Larry Summers says September's better-than-   
   expected jobs report shows the Federal Reserve's half-point rate cut was   
   "a mistake."   
      
   Following the Labor Department's report that employers added 254,000 jobs   
   in September — well above the 140,000 gain that was predicted by LSEG   
   economists — and the unemployment rate declined slightly from a month ago   
   to 4.1%, Summers took to social media to weigh in on the central bank's   
   actions.   
      
   "Today’s employment report confirms suspicions that we are in a high   
   neutral rate environment where responsible monetary policy requires   
   caution in rate cutting," the famed economist wrote. "With the benefit of   
   hindsight, the 50 basis point cut in September was a mistake, though not   
   one of great consequence."   
      
   "With this data, ‘no landing’ as well as ‘hard landing’ is a risk the   
   @federalreserve has to reckon with," he continued. "Nominal wage growth   
   remains well above pre-COVID levels and it does not appear to be   
   decelerating."   
      
   Analysts at The Kobeissi Letter noted that the latest jobs report beat   
   expectations for the first time since May, and posed the question of   
   whether the central bank's 50-basis point cut was too aggressive.   
      
   https://www.foxbusiness.com/economy/larry-summers-jobs-report-shows-feds-   
   half-point-rate-cut-mistake   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)