MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

IFO disappoints

MNI: GERMANY JUL IFO BUSINESS CLIMATE INDEX 87

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Chair Powell Says All Major Measures Of Wages Moving Back Down Gradually

FED
  • Q: Are you worried about the rise in Black unemployment in May?
    • A: We are of course worried about it, that's a factor we can't really address with our tools. We do consider that when we're continuing about what constitutes maximum employment.
  • Q: Can you talk about how you're thinking about the uptick in housing, and rent in PCE inflation?
    • A: We do need to see rents bottom out or stay quite low in terms of increases because rental is a very large part of CPI/PCE. Look at core inflation over the past 6 months/year - not seeing the kind of progress we want to see. The FOMC core PCE median went up significantly. We see that inflation forecasts have been coming in on the low side again, and that tells us we need to do more.
    • All of the major measures of wages have moved down from highly elevated levels a year or so ago and they're moving back down gradually. And we want to see that process continue gradually.
  • Q: Does worker power / labor strikes come up in your discussions?
    • A: We spend a lot of time talking about labor market dynamics, but we're not involved in discussions or debates over strikes and things like that.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.