^{06 May 2024} The Week Ahead: Fed meeting signals rate cuts for 2024 are postponed, not cancelled

US: Softer-than-expected April NFP keeps July rate cut live. The broad-based softening in the labour market indicated by April’s NFP report, coupled with Fed Chair Jerome Powell signalling a shift back towards the employment mandate at the May meeting, has kept the door open for a July rate cut, in our view.

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