Morning Meeting: What May's Low Job Number Means

The video discusses the current state of GDP growth and payroll trends, highlighting a discrepancy between the two. While GDP growth is below trend, payrolls have been strong but are now slowing. The analysis includes a three-month average of payroll data, excluding temporary factors like the Verizon strike. The discussion then shifts to the Federal Reserve's upcoming meetings, predicting no rate hike in June due to market unpreparedness and labor market uncertainties. The possibility of a rate hike in July or September is considered, depending on further economic data and external factors like the UK referendum.

What is the forecast for the next Federal Reserve meeting regarding interest rates?

What is the expected next move for the Federal Reserve according to the text?