UBS pushes back Fed cut to May from March

<p>UBS is the latest to give in to the Fed by pushing the first cut to May from March. </p><p>At 10 AM, Chicago Fed Pres. Goolsbee is expected to give an interview on Bloomberg TV. On Friday, Goolsbee said in a WSJ interview:</p><ul><li>Jobs report raises questions about whether the US is having a productivity pickup</li><li>“We wouldn’t want to make much of any one month, but the continued strength of the labor market, if that continues, would lessen my worry that the job market side of our mandate is deteriorating,”</li><li>despite the brisk hiring numbers, weakness in overall hours worked suggests that “this wasn’t as strong as that headline number suggested.”</li><li>The longer the economy continues to grow and add jobs solidly with declining inflation, the more that Fed officials may have to revise their view about the potential for more noninflationary growth due to gains in worker productivity</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.