Wednesday, September 7, 2016

Decline in hours worked another reason for Fed not to hike in September 20-21 meeting

On the Bureau of Labor Statistics report indicating a decline in hours worked per week : 34.3 hours per week in August, 2016, compared to 34.4 hours per week in August, 2006. 

"This is the number that caught us off, and this is the number that we think shall make it all but impossible for the FOMC to vote to raise the (overnight) fed funds rate at the (September) meeting.