- The more jobs reports you get like this, the more confident we can be the economy isn’t overheating
- Hit a bump in inflation at the start of the year
- The more we see jobs reports that look like pre-covid, the more confidence that there is that the economy is not overheating
- The Fed must get comfort that recent inflation is not a sign of re-acceleration
- What happened in the jobs market this year has to be reset based on estimates of higher immigration but we’re still trying to analyze that
- We have some cross-currents, there’s no question about that
- Are we on the long arc of last year where we saw inflation steadily coming down or some different environment?
- If we remain this restrictive for too long, we’re definitely going to he have to be thinking about the employment side of the mandate
- Manufacturing business contacts indicate ‘more of the same’ in a decent environment
- We don’t hear much input about supply chain bottlenecks anymore
- We didn’t have an advanced look at the jobs numbers
He didn’t offer much here and the market didn’t react to his comments.
This article was written by Adam Button at www.forexlive.com. Source