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Q: Re labour market. How to reconcile low.......>

FED
FED: Q: Re labour market. How to reconcile low unemployment w low wage growth?
A: By lots of numbers, the labour market is in a good place. Wages consistent
with what they should be (inflation + productivity). What's surprising is
getting to these levels of unemp this far into a cycle without wages produce
upward thrust on inflation. Careful about not assuming there's no more slack in
labour market. Haven't seen real signals we're at maximum employment.
Q: From MNI's correspondent Jean Yung - Did you discuss change to balance sheet
at this meeting, end runoffs earlier than planned?
A: Haven't made any decisions. If we do provide more, certainly keep in mind
what we said earlier this year: balance sheet policy consistent with dual
mandate objectives.
Q&A, press conference over.

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