Free Trial

MNI BRIEF: Strong Job Data Bode Well For Growth-Fed's Williams

(MNI) WASHINGTON
MNI (New York)

Federal Reserve Bank of New York President John Williams said Thursday labor market data have been coming in stronger than expected, prompting him to raise growth forecasts.

Judging the degree of imbalance in labor supply and demand will factor into the Fed's estimate of what is "sufficiently restrictive" policy, he added without giving a specific forecast for the peak fed funds rate.

"Clearly some of the new inflation information has been encouraging, but the labor market has been coming in stronger than expected. I’ve been raising somewhat my forecast for growth and my view of the underlying strength of the labor market," he told the Fixed Income Analysts Society in New York.

MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com

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.