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Fed's Powell: Concern About Weak Labor Market Still Slightly Greater Than Concern About Inflation Upside Risk
BlockBeats News, December 12th - Philadelphia Fed President Paulson stated that her current main concern is the labor market situation and that the current monetary policy stance should help bring inflation back to the 2% target. Paulson said: "My current concern about the softness of the labor market is still slightly greater than my concern about the upside risks to inflation. I believe that with the gradual fading of tariff impacts next year, there is a high possibility that inflation will gradually retreat."
Paulson emphasized: "I still believe that monetary policy is somewhat restrictive." This interest rate level, combined with the cumulative effect of past tightening policies, should help inflation return to the 2% target. Paulson described the current labor market as "bending but not breaking," and pointed out that "through the three consecutive interest rate cuts totaling 75 basis points, some insurance has been provided to prevent further deterioration of the labor market." (Jinshi)
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