Analysis: The revision of US Non-farm Payrolls (NFP) may exacerbate Fed officials' concerns about economic slowdown.

On August 21, the Fed's July meeting minutes showed that concerns among some Fed officials about the economic slowdown were growing ahead of the meeting that ended on July 30. The minutes mentioned: "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 estimates for new jobs in 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. ( Jin10 )