Federal Reserve Bank of Atlanta President Raphael Bostic said Tuesday that his overall outlook on the U.S. labor market remains positive despite a rise in the unemployment rate.
Key points
The balance of risks in the economy is returning to level.
Our stance on rates is restrictive.
The recent inflation data gives me more confidence that we can get back to 2%; I want to see a bit more data.
We need to make sure that the inflation trend is real.
If the economy evolves as I expect, there could be a rate cut by the end of the year.
It would be really bad if we cut rates and then had to raise them again.
I’m willing to wait for the first rate cut, but it’s coming.
Housing inflation has fallen significantly in recent months.
The unemployment rate in the grand scheme of things remains historically low.
We still have a strong and solid labor market.
A recession is not in my perspective.
We need to make sure we don’t go from a hot labor market to a cold one.
The labor market may slow down but without considerable concern.
My contacts don’t tell me that there will be many layoffs, if that continues we will be in a good place.
The labor market may slow down but without considerable concern.
I am concerned that unemployment has increased, but more supply is good.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
