Hiring slowdown ahead of Friday's jobs report could force Fed's hand
The labor market is expected to slow down. Here's how it could impact the Federal Reserve.
With the February jobs report on deck, investors are bracing for signs of a cooling labor market amid a slew of recent weak economic data. While the labor market has shown strength over the last few months, some experts are predicting a gradual slowdown in hiring—a shift that could eventually nudge the Federal Reserve toward cutting interest rates. George Seay, chairman & founder of Annandale Capital, joined TheStreet to discuss why he's expecting a weakening labor market and how it might impact the Federal Reserve's rate cutting strategy.
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Full Video Transcript Below:
GEORGE SEAY: I do expect a slowdown in hiring. I think that the labor market will impact the Fed, but I don't think it will do so immediately. I think it will take time for that to play out in the labor market. It has been very, very strong until now. I think it's going to weaken. I think it's going to get harder for people to find good jobs in the next 24 months, so that that will be a a win in the face factor that the Fed will have to face and probably will lead to them cutting rates eventually. But I don't think it's going to be in the near term.
