August 05, 2024 at 01:35PM
We must be a little careful over-concluding about the jobs report
So far, his comments are focused on economic data, not the turmoil in markets.
The Fed does need to be forward-looking in setting policy
If you look at domestic purchases, the GDP was relatively stronger than we expected
We’re going to get a lot of information between now and the next meeting
The international component of this is a factor
It’s the market to react and the Fed’s jobs to act, one of those has a lot more volatility than the other
Asked about emergency cut, says he can only speak for himself
Everything is always on the table
We will respond to conditions
If the economy deteriorates, we will fix it; the Fed will respond to conditions
I’m not going to bind our hands going forward
If jobs data is a longer-term sign, we should then respond to what those forces are
We’ve very restrictive and you only want to be restrictive like that if you think the economy is over heating
This article was written by Adam Button at www.forexlive.com.
