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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.
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Free AccessMNI BRIEF: Barkin Values Optionality Of December Fed Hike
The Federal Reserve should keep the option of another interest-rate increase on the table, depending on inflation progress, but the weaker-than-expected October jobs report is welcome evidence that the labor market is normalizing, Richmond Fed President Thomas Barkin said Friday.
Slowing hiring last month follows anecdotal reports from business contacts that labor demand is cooling, particularly for professionals, he said in a CNBC interview. "What we saw today was data that showed gradual lessening of the job market, and I think that's what those who would like to not see another rate hike would like to see," he said. Whether he would support another rate hike, Barkin said: "I won't prejudge that. I value the optionality." (See: MNI INTERVIEW: 2024 Fed Hikes Possible On Fiscal Boost-Kaplan)
He noted lower-income consumers are "reprioritizing" how and where they spend while middle-income consumers are trading down. Wealthier consumers are still spending extravagantly on services, Barkin said. "Istillthinkthere'sagoodchanceofwhatwe'reseeingontheconsumersideisanormaleconomy,asolideconomy,not a frothy economy."
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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.