MNI China Daily Summary: Tuesday, October 8

MNI BRIEF: Japan's Sept Sentiment, Outlook Indexes Fall

MNI BRIEF: China Local Govs To Speed Up Fiscal Spending

MNI: PBOC Net Drains CNY886.9 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.0709 Tues; +4.18% Y/Y

CHINA PBOC CONDUCTS CNY41.7 BLN VIA 7-DAY REVERSE REPOS TUES

MNI: US REDBOOK: OCT STORE SALES +5.3% V YR AGO MO

MNI: US AUG TRADE GAP -$70.4B VS JUL -$78.9B

US NFIB SEP SMALL BUSINESS INDEX 91.5

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

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

MNI BRIEF: Fed Kugler Plays Down Strong US Sept Labour Data

Fed Governor Kugler says focus on trend, not single data point.
USBundesbankPolicy NewsHomepageFederal ReserveCentral Bank NewsCEEMEAEurozoneGermanyBriefGlobalEuropean Central BankStoryRegionNorth America
MNI (LONDON)
The US Federal Reserve looks at the overall trend of the U.S. labour market and not any one particular point of data, Governor Adriana Kugler said on Tuesday, playing down the importance of Friday's data jobs report that saw a total 254,000 new jobs added in September and an upward revision of 72,000 for the previous two months.
 
"We don't want that labour market to cool too much, when there is a serious reduction of inflation", she told an ECB conference in Frankfurt, noting that cooling has certainly started to take hold in the labour market looking at "a whole constellation of data".
 
She pointed to how employment creation per month has been decelerating from 2022 and noted that several metrics in the labour market, such hiring, now sit at similar numbers than before the pandemic. Here earlier speech is here (see MNI: Fed's Kugler Supports More Cuts If Disinflation Continues )
153 words

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.
MNI (LONDON)
The US Federal Reserve looks at the overall trend of the U.S. labour market and not any one particular point of data, Governor Adriana Kugler said on Tuesday, playing down the importance of Friday's data jobs report that saw a total 254,000 new jobs added in September and an upward revision of 72,000 for the previous two months.
 
"We don't want that labour market to cool too much, when there is a serious reduction of inflation", she told an ECB conference in Frankfurt, noting that cooling has certainly started to take hold in the labour market looking at "a whole constellation of data".
 
She pointed to how employment creation per month has been decelerating from 2022 and noted that several metrics in the labour market, such hiring, now sit at similar numbers than before the pandemic. Here earlier speech is here (see MNI: Fed's Kugler Supports More Cuts If Disinflation Continues )