Analysis: The downward revision of non-farm data may exacerbate Federal Reserve officials' concerns about economic slowdown

ChainCatcher news, according to the Federal Reserve's July meeting minutes, some officials expressed increasing concerns about the economic slowdown during the meeting that ended on July 30. The minutes noted: "Several participants indicated that they expected economic activity growth to remain subdued in the second half of the year."

The minutes also added: "Regarding the household sector, several participants observed that the slowdown in real income growth may be restraining the growth of consumer spending." It is worth noting that these views were expressed a few days before the release of the July employment report, which revised down the estimated job gains for May and June by 258,000. Therefore, since the July meeting, concerns about an economic slowdown triggered by a weak labor market may have further intensified for some officials.