NAB – The Morning Call · Payrolls just the job for Goldilocks

Payrolls just the job for Goldilocks

Monday 5th July 2021

Not too strong not too light, that seems to be the view of the non-farm payrolls in the US on Friday. It wasn’t strong enough to signal change in the Fed’s direction says NAB’s Tapas Strickland. At the current pace, he said, it would take eight months to get back to the pre-pandemic level for payrolls. There’s also discussion about changes expected from the RBA tomorrow. It’s been well signalled that there will be policy changes.  Tapas says, given the improvements in the Australian economy, the need to run QE at $100 billion every six months is not there anymore.

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