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FED: Powell on Risks to the Unemployment Outlook

FED
USEM BulletFederal ReserveCentral Bank NewsEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America
  • Powell on risks to the unemployment outlook: There's a low hiring rate, so if layoffs rose, then unemployment could rise quickly. Lower income households are under significant pressure.
  • Powell says there's nothing in the data yet to show an impact from immigration policy shifts under the new administration, but there are anecdotes in sectors such as construction.
  • Powell waxing philosophical: "Uncertainty is with us all the time...it's human nature to underestimate how fat the tails are...it's never not that way".
  • Says he wouldn't compare the current period's uncertainty with, say, the GFC, as the economy is still solid.
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  • Powell on risks to the unemployment outlook: There's a low hiring rate, so if layoffs rose, then unemployment could rise quickly. Lower income households are under significant pressure.
  • Powell says there's nothing in the data yet to show an impact from immigration policy shifts under the new administration, but there are anecdotes in sectors such as construction.
  • Powell waxing philosophical: "Uncertainty is with us all the time...it's human nature to underestimate how fat the tails are...it's never not that way".
  • Says he wouldn't compare the current period's uncertainty with, say, the GFC, as the economy is still solid.