- The Bureau of Labor Statistics’ significant downward revision has sparked concerns about a weakening U.S. economy, with JPMorgan’s Jamie Dimon warning the data “confirms what we already thought.” Still, economists from Macquarie and Goldman Sachs’ David Mericle argue more recent data suggests the economy is unlikely to tip into recession, though it strengthens the case for Fed rate cuts.
Despite a downward revision to U.S. labor data of nearly a million jobs over the past year, markets aren’t panicking this morning. It’s not like there’s going to be a recession … right?
