Based on what it is seeing in the employment market, the Federal Reserve isn't facing a lot of pressure to reduce rates, according to John Chang, Senior Vice President and National Director of Research and Advisory Services, Marcus & Millichap.
The past two months have shown accelerating job creation and that's likely causing the Federal Reserve to hold off on the rate cuts for a bit, said Chang, speaking on his firm's recent industry news video.
During Chairman Powell's appearance on "60 Minutes" a little over a week ago, Chang said he offered a strong clue when he said, "We have a strong economy. Growth is going on at a solid pace. The labor market is strong, with 3.7% unemployment, and inflation is coming down.
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