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Three US-focused Exclusives

MNI EXCLUSIVE

Our Policy team published three US-focused Exclusives yesterday: a interview with a former Fed Governor and two stories looking at the labour market citing industry experts.

  • The first was an interview with former Fed Governor Larry Meyer who said that Fed officials will likely be satisfied with reaching traditional goals of full employment and stable prices in order to lift interest rates by mid-2023 and won't take too many risks seeking a more inclusive job market recovery amid overheating fears. See MNI INTERVIEW: Fed Hikes Won't Wait for Social Equality -Meyer, 1 July 15:29BST/10:29ET.
  • Ahead of the US labour market report later today, in our Reality Check piece our Policy team spoke to industry exports who told MNI that U.S. hiring accelerated in June as vaccine uptake fueled further business re-openings and increased mobility, but a limited labor pool is still holding back even stronger job gains, forcing many employers to raise hourly wages and salaries in an attempt to bring back workers that are still sitting out. See MNI REALITY CHECK:US Hiring Capped, Wages Up on Labor Shortage, 1 July 18:10BST/13:10ET.
  • A similar view was held by ISM manufacturing chair Tim Fiore who in an interview with our Policy team said that increasing wages in the service sector are luring workers away and limiting U.S. manufacturing production. He added adding that hiring has been difficult but appears to be easing and employment should pick up in September as jobless benefits across the country come to an end. See MNI INTERVIEW: US Service Wages Limit Mfg Production-ISM Chief, 1 July 18:51BST/13:51ET.

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