Bloomberg Surveillance · Thursday, August 13, 2026
The labor market is described as stable, with low churn (low hires, low fires), which is an improvement from late last year. While not considered strong enough to prevent rate hikes, it's stable enough for the Fed to implement them if desired.
“I don't take very seriously the decline and employe that was reported for July.”
“I think the labor market is stable. I don't think you would say it is strong necessarily, it's still this idea of low churn. It's low higher low fire.”
“That has inflected upward. It's not up, up and away in a way that forces rate hikes, but it's stable enough to allow rate hikes if the Fed wants to do it.”