Latest / The Federal Reserve Podcast with Fexingo: Interest Rates, FOMC Meetings, and Monetary Policy
What the Fed Reads Into the May Jobs Number
With the May jobs report due Friday and long-term unemployment already trending up, Lucas and Luna unpack what the Fed is actually looking for in the payrolls data. They argue that the headline number matters less than the composition: full-time versus part-time jobs, labor force participation among prime-age workers, and the stubborn rise in the long-term unemployed. Using the latest ADP print of 122,000 private payrolls and the ten-year yield hovering near 4.54%, they explain why the Fed might hold rates steady even if Friday's number comes in hot. They also examine a hidden metric—the…
The skinny
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