ISM Services Survey Underscores Need for Fed to Raise Rates
Dow Jones
Yesterday
1140 ET - The September ISM services survey highlights the Federal Reserve's dual mandate tensions. In the survey, the 'prices paid' index rose to its highest level since July 2022. "The ISM nonmanufacturing survey underscores the need for the Federal Reserve to raise rates in October and December as it seeks to unwind the rate cuts from 2025," a note from Oxford Economics said. Along with intensifying price pressures, the supplier deliveries index signaled slower delivery times, or additional supply stress. Meanwhile, Oxford Economics said the employment and business activity components point to a stable labor market.
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