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What the ADP Miss Number Means for the Fed
Season 2
Episode 87
Published 1 week, 2 days ago
Description
The latest ADP report showed private payrolls added just 98,000 in June, well below expectations. Lucas and Luna examine what this 'miss' signals to the Federal Reserve about the labor market's trajectory, and how it fits with other data like core PCE at 3.3 percent and the ten-year yield at 4.47 percent. They discuss whether the Fed is more likely to cut rates this year or hold steady, and why job growth deceleration might not be a red flag yet. Specific focus on the service sector's role in the slowdown and the Fed's dual mandate trade-off between inflation and employment. The conversation stays grounded in current numbers and avoids broad macro generalities.