“We’re on a path toward a recession, but it is clear what can get us off that path, and that would be less aggressive policies.”
KPMG’s Diane Swonk added to the caution:
“The deterioration in job security we are seeing is particularly worrisome… the drop in consumer attitudes is in recession territory.”
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What’s Next for the Fed?
The Federal Reserve is expected to hold interest rates steady at its next meeting. According to CME FedWatch, there’s a 97% chance of a rate hold, slightly higher than before the release of the jobs data.
Related Reading
- USA Today: April jobs report shows strength
- CBS Baltimore: Maryland saw private sector job growth
- Business Insider: Federal Reserve’s interest rate outlook
