Analysis: Downward Revision of Non-Farm Payrolls Data May Exacerbate Fed Officials' Concerns About Economic Slowdown

BlockBeats News, August 21st, the minutes of the Federal Reserve's July meeting showed that at the meeting held on July 30th, some Federal Reserve officials' concerns about an economic slowdown had intensified. The minutes mentioned: "Several participants indicated that they expected the pace of economic activity in the second half of the year to be notably slower."

The minutes also added: "With regard to the household sector, several participants observed that the deceleration in real income growth might be holding back consumer spending growth." It is worth noting that these views were expressed days before the July jobs report was released, which revised down the estimated job gains for May and June by 258,000. Therefore, since the July meeting, concerns about an economic slowdown possibly triggered by softness in the labor market may have further intensified for some officials. (Jin10)