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- Fed's Kashkari: Not seeing much imprint of our actions on labor market
Fed's Kashkari: Not seeing much imprint of our actions on labor market
Minneapolis Federal Reserve (Fed) President Neel Kashkari told CNBC on Tuesday that he was surprised by the January jobs report, per Reuters.
Key takeaways
"We are not seeing much imprint of our actions on labor market."
"I am not lowering my rate path, still around 5.4%."
"I'm not changing my forecast for rates for now."
"I wish we saw more evidence underlying inflation was trending down more."
"Services side of economy is still very robust."
"We have to bring labor market into balance, haven't done enough yet."
"Nobody should overreact to one report, but there is underlying strength in services sector."
"Hard to imagine strong jobs growth can occur with wage growth moderating."
"We need to be disciplined."
"12 month PCE inflation is our ultimate goal."
"Core services ex housing has seen virtually no progress.",
"We haven't made enough progress to declare victory."
Market reaction
The US Dollar preserves its strength following these comments with the US Dollar Index clinging to modestly daily gains at around 103.70.
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