More from SF Fed Pres.Mary Daly: Fed is facing calibration exercise on policy

  • Policy is in a good place, there is more work to do
  • Encouraged we been able to bring inflation down with labor market solid
  • We are on path to bring inflation down as gently as we can
  • Fed is facing calibration exercise on policy
  • Holding on too long with rates could create unforced error, her economy
  • We are waiting and watching economy to fine-tune our decision-making

The next key economic release is the employment statistics on Friday. Recall non-farm payroll rose by 353,000 last month surprising the market in the process. The expectations are for a number around 190,000 on Friday.

The ADP national employment numbers came in at 140K earlier today less than the 150K estimate. The prior month was revised up a little higher at 111K versus 107K previously reported. Is the ADP too low, or are the BLS figures the outlier but there is some divergence of views.

This article was written by Greg Michalowski at Source