It's all about the jobs data for the Fed now: Economist

With many on Wall Street optimistic about an interest rate cut after commentary from Federal Reserve Chair Jerome Powell earlier on Friday, many have begun to argue how much the Fed will cut and what will impact the Fed's decision more, inflation or labor.
Oxford Economics chief US economist Ryan Sweet joins Market Domination to discuss Powell's commentary, what it means for the labor market, and more.
Sweet believes the "Fed is arguably maybe a little bit behind the curve" when it comes to the trajectory of the economy and will remain more dependent on the labor market for future decisions: "We can kind of put the inflation numbers in the back seat and everything is about the jobs numbers."
He follows that up with: "I don't think the Fed is going to ignore the inflation aspect of their dual mandate. It's just got a smaller weight in their reaction function because you know as Powell alluded to today, they're feeling a little bit more confident and comfortable with where inflation is headed."
Watch Federal Reserve Chair Jerome Powell's full speech here.

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