BNY Mellon Strategist Jeff Says Softer U.S. Labor Data Reduces Urgency for Further Fed Tightening

A senior macro strategist at Bank of New York Mellon said weakening U.S. labor data and improving inflation readings have reduced the urgency for the Federal Reserve to tighten policy further. According to ChainCatcher, Jeff said the shift does not resolve key uncertainties, including whether slowing growth remains within a manageable range or whether market expectations for policy have adjusted too far. He added that the global narrative is becoming less unified, particularly in economic discussions in the United States and Europe.