US labor market still strong, interest rate decision depends on data = Cleveland Fed President | Reuters

2023-09-01 13:33:00

FILE PHOTO: The U.S. Federal Reserve building in Washington, D.C./File Photo

[ニューヨーク 1日 ロイター] – Cleveland Federal Reserve Bank President Loretta Mester said on Thursday that the US labor market remained strong despite signs of balancing. At the same time, he said decisions about interest rates would be data-driven.

“The job market remains strong despite some improvement in the supply and demand balance,” Mester said in his speech. It’s still at a low level,” he said.

As for the Federal Reserve’s future interest rate decisions, it said it would “monitor closely developments in the economy, banks and financial markets and use all economic observations to determine whether the economy is proceeding as projected.” need to be done,” he said.

Inflation is still too high, but upward pressure on prices has eased, he said.

Nonfarm payrolls rose by 187,000, according to the Labor Department’s August employment figures released this morning. Economists polled by had expected an increase of 170,000. The unemployment rate rose to 3.8% from 3.5% in July. However, it was below the Fed’s median estimate of 4.1% for the fourth quarter.

#labor #market #strong #interest #rate #decision #depends #data #Cleveland #Fed #President

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.