Free Trial

Powell Stresses Need For Price Stability For Properly Functioning Jobs Market

FED

Last Q: How are you able to balance your dual mandate when the unemployment rate for black works is still roughly double the rate for white workers?

  • A: Unemp rates for all racial groups have come down a lot and are now closer to pre-pandemic. But I don't see the two sides of the mandate as in tension, the labor market is out of balance - there's a labor shortage.
  • There aren't enough people to fill these job openings. To get a labor market that serves all Americans, you have got to have price stability.
Q&A concludes.

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.