Fed welcomes strong jobs data as focus is now on employment: Kashkari
Investing.com -- Minneapolis Fed President Neel Kashkari suggested Monday that the Fed welcomed the strong September jobs report, underscored the strength economy, which the central bank hopes will continue as its focus is now on the labor market.
The Minneapolis Fed president said the strength in the labor market was welcomed as it bucked the historical trend of a spike in unemployment during a period of aggressive rate hikes. "We have not seen that, so that's a really good fact that the job market has stayed strong while inflation has come down," he said, adding that the focus for the Fed has shifted away from high inflation.
Acknowledging that monetary policy usually works with a lag, the Minneapolis Fed president said that while he can't rule out the possibility that the previous rate hikes may yet have a big impact on the economy, he wasn't"seeing much evidence of that."Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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