Quote: June 10, 2024

“Although this report is not uniformly strong, on net, it is showing a job market that is still quite tight, which likely means that the Federal Reserve will continue to hold at its current level of rates, as inflation is unlikely to drop back to target given this pace of wage growth. MBA is forecasting a first rate cut in September of this year.”
–MBA Senior Vice President and Chief Economist Mike Fratantoni on the June 7 jobs report