Barclays: Softer jobs data pushes expected Fed rate hike to January
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Barclays now expects Fed to raise rates by 25 basis points in January instead of December
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Cites October's softer-than-expected employment data and dovish Fed commentary for updated forecast
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Unemployment rate rose to 3.9% in October, highest since January 2022
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Barclays believes FOMC will need additional tightening and maintain higher rate path than markets expect
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No rate cut expected before September 2024 according to Barclays economists