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Federal Reserve Chairman Jerome Powell's remarks hint at a more patient and cautious approach to monetary policy, suggesting interest rates may hold steady longer than anticipated
Most economists for the biggest forecasting firms expect the central bank will lower benchmark interest rates sometime later this year.
The Federal Open Market Committee will hold the target range for its benchmark rate at 5.25% to 5.5% — a two-decade high first reached in July — at the conclusion of its two-day policy meeting Wednesday.
Bank of America economist predicts 250,000 increase in nonfarm payrolls for April, driven by state and local government, healthcare, education, and leisure and hospitality sectors. Expectations for above-consensus wage growth due to new minimum wage law in California.
Bank of America U.S. economist Michael Gapen recently provided insights into the expected performance of the U.S. employment sector for April, forecasting nonfarm payrolls will see an increase of 250,000, marking a slight deceleration from the 276,000 average gain over the previous three months. That marks a slightly above-than-consensus view, as the median economist expects nonfarm payrolls to come in at 243,000 in April. Government job gains are expected to show a 50,000 increase, while the pr