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MNI INTERVIEW: Fed Cuts Expected To Bolster Jobs - UMich

MNI speaks with the director of the University of Michigan's Surveys of Consumers.

MNI (WASHINGTON) - The share of Americans expecting the Fed to lower interest rates over the next year is at a record high and they generally expect those lower interest rates to help stave off any further significant weakening in the labor market, the head of the University of Michigan's Survey of Consumers told MNI.

"About 55% of consumers expect rates to fall in the year ahead. We saw those numbers before and after the FOMC rate cut [last week], and that's the highest share to report those declining interest rates expectations in the entire history of the survey, since we started collecting this on a monthly basis in 1978," said survey director Joanne Hsu in an interview Friday.

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MNI (WASHINGTON) - The share of Americans expecting the Fed to lower interest rates over the next year is at a record high and they generally expect those lower interest rates to help stave off any further significant weakening in the labor market, the head of the University of Michigan's Survey of Consumers told MNI.

"About 55% of consumers expect rates to fall in the year ahead. We saw those numbers before and after the FOMC rate cut [last week], and that's the highest share to report those declining interest rates expectations in the entire history of the survey, since we started collecting this on a monthly basis in 1978," said survey director Joanne Hsu in an interview Friday.

Keep reading...Show less