Top economist David Rosenberg mocks calls for the Fed to hike interest rates again after job openings surge
David Rosenberg has poked fun at the idea that the Federal Reserve has to raise interest rates again, after a surge in job openings sparked fears that the US economy is overheating and needs to be cooled down.
"Stop the presses! Job openings rose +358k in April. The Fed has to tighten!!" the Rosenberg Research president and former chief North American economist at Merrill Lynch"After all, the JOLTS is such a holy-grail statistic, with its huge 30% response rate ," he continued."Can you imagine that this is the metric the Fed bases its policy decisions on??", published Wednesday, unexpectedly showed that job openings rose and layoffs fell.
However, Rosenberg's tweet suggests he's skeptical of the report's validity, given it's a survey with a low response rate. He's also made it clear that he believes the Fed has done enough. The central bank has already
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