Fed’s Bowman warnt: Jobkrise könnte drei Zinssenkungen noch 2025 erzwingen

Die US-Notenbank steht unter Druck: Laut Fed-Mitglied Michelle Bowman könnte die angespannte Arbeitsmarktsituation die Währungshüter zu drastischen Maßnahmen zwingen.

Drei Zinssenkungen noch dieses Jahr? Was nach Panikmache klingt, ist plötzlich im Bereich des Möglichen – Hauptsache, die Aktienmärkte jubeln.

Bowmans Aussagen kommen zu einem kritischen Zeitpunkt: Während sich die Wirtschaftsdaten verschlechtern, hoffen Anleger auf weitere Liquiditätsspritzen. Die Fed steckt in der Zwickmühle – inflationsbekämpfung oder Konjunkturrettung?

Ein klassischer Fall von 'Heute schon die nächste Krise herbeigeredet?' Die Märkte werden es der Fed danken... oder ihr später vorwerfen. So läuft das Spiel eben.

Unemployment rises as job growth slowed

The Labor Department reported on Friday that the unemployment rate rose to 4.2%, which Bowman described as “close to rounding up to 4.3%.” The same report also revised past figures, showing job growth over the last three months slowed to an average of 35,000 per month.

“This is well below the moderate pace seen earlier in the year, likely due to a significant softening in labor demand,” Bowman said. She added that her own forecast since last December has included three rate cuts for this year, and the latest jobs data strengthens that outlook.

As highlighted by Cryptopolitan, Bowman and Waller’s earlier calls for policy easing had already shifted market expectations.

The Fed has three policy meetings left in the year in September, October, and December.

Economists generally view job gains of about 100,000 a month as enough to keep the labor market steady. That figure may be lower now due to reduced immigration since President Donald Trump began his second term in January.

Bowman’s clear backing of rate cuts comes as Trump has repeatedly pressed the central bank to ease policy.

The search for a replacement for Fed Chair Jerome Powell, whose term ends in May, is already underway. Among those being considered is Governor Christopher Waller, who, like Bowman, dissented from last month’s decision. Bowman said she began making the case for a July rate cut during the Fed’s June meeting.

Trump, meanwhile, has claimed that the latest jobs figures were “rigged” and dismissed the commissioner of the Bureau of Labor Statistics shortly after the report was released.

Policies expected to offset tariff impact

Bowman has often said that large revisions to employment data make her careful about relying too much on a single report. However, on Saturday she noted that the most recent information on economic growth, jobs, and inflation points to higher risks to employment, one of the Fed’s two main goals.

She also said that recent inflation numbers make her more confident that the administration’s tariffs will not cause lasting price increases. Without tariff-related goods price rises, underlying inflation is “much closer” to the Fed’s 2% target than the official June reading of 2.8%, which was based on the Core personal consumption expenditures price index over 12 months.

Bowman said Trump’s policies, including tax reductions and deregulation, are likely to balance out any economic slowdown or price increases caused by import tariffs.

With housing demand possibly at its lowest point since the financial crisis and the labor market no longer adding upward pressure on inflation, she said the chances of prices rising too quickly have reduced.

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