As the Federal Reserve moves to cut interest rates at its September meeting, some investors believe the relief will be too little, too late, as the US is...
As the Federal Reserve moves to cut interest rates at its September meeting, some investors believe the relief will be too little, too late, as the US is already headed toward a recession. HSBC chief US economist Ryan Wang joins Morning Brief to break down the likelihood of a recession as the Fed eyes its soft landing .
So I think part of the uncertainty is that both have cooled down significantly over the past two years.You know, businesses were hiring because we were in the midst of, of course, the unprecedented reopening of the economy following the pandemic. And what would that translate for productivity, especially as we're continuing to monitor more broadly here some of the changes that are taking place in the workforce larger kind of tectonic shifts, even, uh, whether that be technology based or whether that just be the workforce right now, starting to feel a sense of burn out, especially in certain sectors.
And actually, workers may now be in jobs that they're they're better suited to be filling, uh, that they prefer because of all this turnover we've seen in recent years and that may actually be boosting productivity.However, by its nature, that's something that should be, uh, temporary or transitory, if you like, in the broadest sense of the word.A lot of increased labour input, a lot of increased labour supply over the past few years but also pretty strong productivity growth.
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