He Minneapolis Federal Reserve (Fed) President Neel Kashkaritold CNBC on Tuesday that he was surprised by the January jobs report, according to Reuters.
“We are not seeing much of an impact of our actions in the labor market“.
“I’m not lowering my rate path, I’m still keeping it around 5.4%.”
“I’m not going to change my rate forecast for now.”
“Hopefully we’ll see more evidence that core inflation is trending lower“.
“The services side of the economy remains very robust.”
“We have to balance the labor market, we haven’t done enough yet.”
“No one should overreact to a single report, but there is underlying strength in the services sector.”
“It’s hard to imagine that you can have strong job growth with moderate wage growth.”
“We have to be disciplined.”
“12-month PCE inflation is our ultimate goal.”
“Basic services, except for housing, have practically not progressed,”
“We haven’t made enough progress to declare victory“.
The Dollar remains strong following these comments, with the Dollar Index holding on to modest daily gains around 103.70.
Source: Fx Street
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