Will January’s stronger-than-expected jobs report turn out to be a blessing or a new problem for equity markets, especially as Federal Reserve officials do not anticipate finance charge rate cuts to come in early 2024?
BNY Mellon capital Management Head of US Macro Sonia Meskin analyzes January’s labor print and the top economic narratives brewing in 2024.
“While the [tech] layoffs can grab headlines, it’s the net that’s really the most impactful for the consumer,” Meskin tells Yahoo money management, who also goes on to say that investments in cash may no longer “be king” coming out of 2023 trends.
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