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Fed: Labor market remains strong — Michelle Bowman

Federal Reserve Governor Michelle Bowmansaid Wednesday that a strong U.S. job market, a recovery in the service sector and the opening of more schools and daycare centers are likely to see more women return to the workforce.

“We continue to see strong job gains and low unemployment rates, the type of job market that has historically attracted more workers,” Bowman said in remarks prepared for delivery to the Arkansas Commission on Women in Russellville, Arkansas.

“There are still many jobs available even if we see a reduced number of job offers.”

key statements

The labor market remains strong.
The future of the labor supply is uncertain.
Some retirees may feel forced to return to work due to inflation.
Greater job opportunities for women are seen as possible in the future.
High inflation and strong employment will likely create some pressure on labor and employment.
Meanwhile, US futures are pricing in a higher probability of a 50 basis point hike for September after the release of the FOMC minutes, with a probability of around 60%.

Consequently, the US dollar has dropped. The DXY index, which measures the USD against a basket of currencies, fell 30 points to 106.44. The 10-year yield is under pressure, falling 0.8% to 2,888% and a far cry from daily highs of 2,919%. The yield on the 2-year Treasury bond fell almost 1.4%.

Source: Fx Street

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