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Powell Stresses Need For Price Stability For Properly Functioning Jobs Market

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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.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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