Fed Officials’ Concerns Over Economic Slowdown Intensify as Nonfarm Payroll Revisions Have Significant Impact
According to ChainCatcher, citing Jintou News, the minutes of the Federal Reserve's July meeting indicate that some officials are increasingly concerned about an economic slowdown, and expect economic activity growth to remain sluggish in the second half of the year. The minutes noted that slower real income growth could dampen the increase in consumer spending. In addition, the July employment report revised down the estimated number of new jobs added in May and June by 258,000, further intensifying some officials' concerns about an economic slowdown.
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