Fed: Spending could recover faster than employment

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The unemployment rate in the US remains very high and could reach 11% if you include people who left the labor force, said Thursday President of the Federal Reserve of Richmond, Thomas Barkin, Reuters reported.

Additional conclusions

“2% is an inflation target, not a ceiling.”

“I don’t have a stimulus bill in my economic forecast.”

“Spending could recover faster than employment.”

“There are sectors of the economy that are showing great strength, including manufacturing.”

Market reaction

These comments had virtually no impact on the US Dollar Index, which was last seen gaining 0.46% on the day at 93.83.

Credits: Forex Street

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