KPMG's Swonk Expects Some Downward Surprises on Jobs

The transcript discusses the labor market's strength and potential downward revisions, highlighting the ADP data's role in understanding wage gains and inflation. It also examines the impact of external factors like California floods on payroll data and concludes with the Federal Reserve's approach to controlling inflation and rate hikes.

What does the speaker suggest about the potential for downward revisions in labor market data?

What threshold does the speaker mention that the Fed needs to feel inflation is under control?