Ahead of this Friday’s NFP release, Philip Shaw – Chief economist at Investec – joined Zak Mir and Mike Ingram to discuss what is still holding back the Federal Reserve from making a move to increase interest rates.
Business as usual, but chaos in the markets.
Despite the prediction that NFP data will be more or less in line with previous releases, and other data still erring on the positive side, the markets have been increasingly volatile over the summer. Shaw believes a major issue is the continuing uncertainty with China. With Janet Yellen seemingly linking monetary policy to the emerging markets, sentiment has remained mixed on whether a rate hike will occur in 2015.