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FED: Collins Downplays Payroll Revisions

FED
  • Boston Fed’s Collins (’25 voter) tells Fox Business that the jobs market is healthy despite [yesterday’s downward preliminary benchmark] revisions. 
  • Inflation and employment have come into better balance and she still sees a gradual pace of cutting as likely being appropriate, with the pace guided by data. 
  • She isn’t seeing a red flag in consumption data.
  • She previously said Aug 9 (post-payrolls, pre-CPI) that it will be appropriate to begin easing “soon” if data come in as expected with the timing and pace of cuts to be based on data. The labor market remains strong even though the latest jobs data came in softer than predicted.

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