Investors ‘over-interpreted” July jobs report: Economist

The July jobs report sent markets into a tailspin and had investors worried that the economy may be slowing too much and that the Federal Reserve kept rates high for too long.

Dreyfus-Mellon Asset Management chief economist and macro strategist Vincent Reinhart doesn’t think that’s the case. Reinhart thinks the markets “over-interpreted” the report, noting that the US is still adding jobs. As he put it, the narrative is “circling back” to the Fed’s narrative at the end of July, which is that a soft landing is ahead.

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This post was written by Stephanie Mikulich.