Richmond Federal Reserve Bank President Thomas Barkin said Friday that the U.S. labor market is moving in a very steady softening pattern and is unlikely to reaccelerate at this time.
Featured Statements
“Consumer demand remains healthy, although it is slowing.”
“Reacceleration of the labor market at this time seems unlikely.”
“There is more uncertainty around the path of inflation, given that the advance of the last six months has depended so much on goods.”
“Companies continue to try to raise prices; we have to see how consumers and competitors react.”
“The first quarter will be important, as companies tend to point to the rise at the beginning of the year.”
“The labor market is 'normalizing well'.”
“There is no problem in 'shifting' the rate to more normal levels as confidence is built that inflation is falling.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
