Fed's Schmid (2028 Voter, Hawk) says businesses are pausing on hiring
- Labour market is under a structural, not cyclical strain.
- He will miss J-Powell and been blessed to have him at the head.
- It's probably a good thing that the board of governors have more votes than the Fed presidents.
Context
Schmid's comments reflect a hawkish perspective amid concerns about structural issues in the labor market rather than cyclical ones, suggesting potential implications for future hiring and economic growth. This underscores a cautious approach from the Fed, indicating interest rates could remain elevated longer if hiring trends don't improve, which may support the USD relative to other currencies during this uncertainty.
Trade the TapeGet this analysis live, the moment it breaksNewsquawk's real-time dashboard delivers market-moving headlines and instant context to your desk before the rest of the market reacts.
Open Dashboard#UNITED STATES#USD#JAPAN#UNITED KINGDOM#IMPORTANT#FOREX#FIXED INCOME#EU SESSION#US SESSION#FEDERAL RESERVE#CENTRAL BANK#HAWK#DXY