Fed's Goolsbee: Current employment numbers are solid
Commenting on April labor market data, Federal Reserve Bank of Chicago President Austan Goolsbee told Bloomberg TV that it was a solid report with 175,000 new jobs.
Key takeaways
"We hit a bump on inflation at the start of the year."
"I don't like committing even to the next meeting."
"Fed must get comfort that recent inflation is not a sign of reacceleration."
"What happened in the job market this year has to be re-normed based on estimates of higher immigration; still trying to analyze that."
"Monetary policy is restrictive; real federal funds rate is as high as it has been in decades."
"We have to get more comfort on whether the Fed is still on a path to lower inflation."
"If the Fed remains restrictive too long, it will have to think about the employment side of the mandate; but current numbers are solid."
Market reaction
The US Dollar Index recovered from daily lows after these comments and was last seen losing 0.25% on the day at 105.06.
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.