- October 6, 2023
- Posted by: legaleseblogger
- Category: Related News
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Friday’s Jobs Report Points to a Soft Landing for the Economy, But Rate Hikes May Continue
According to Shannon Saccocia, Chief Investment Officer of NB Private Wealth, the September jobs report, which showed soaring payrolls, is yet another indication that the economy may experience a soft landing. Saccocia pointed out that continued consumer strength, as evidenced by the increase in employment levels, along with easing CPI numbers and positive economic projections from the Federal Reserve, all suggest that the economy is in decent shape. However, Saccocia also mentioned that despite the positive jobs report, concerns about a deeper recession and the possibility of higher interest rates heading into 2024 still remain. She believes that the current market cycle will continue to experience digestion and repricing, with the effects being more pronounced in 2024.
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