Productivity Surges as Workers Fear Layoffs in Uncertain Economy, But Weak October Jobs Report Opens Door for Rate Cuts
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Productivity is surging as workers fear layoffs in uncertain economy, says Professor Jeremy Siegel.
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Siegel believes increased worker productivity is behind recent "surprising" GDP growth.
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However, October jobs report came in "quite weak," giving "1-2 punch for lower rates."
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Siegel says case for rate hikes has suffered, expects discussion on lowering rates to start soon.
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JPMorgan Chase CEO Jamie Dimon warns against betting on rate cuts, says bank prepared for different scenarios.