Atlanta Fed Pres. Bostic is speaking and says:
Labor market has slowed down, but is not slow or weak.Monthly job creation above what is needed to account for population growth.Economy is close to the Fed targets and moving closer.Inflation rate is still quite a ways above 2%.A risk that the economy is too strong, and could hamper policy recalibration.
Bostic’s GDP now estimate for Q3 growth came in today at 3.2%. The risk of policy recalibration is a real concern for the market. There is a 12.7% chance that the Fed does not cut rates in November. The chance of a 25 basis point cut is still at 87.3%.
This article was written by Greg Michalowski at www.forexlive.com.
