- NFP report was disappointing
- Healthy labor market still in balance, but should be watched
- confident in decision made earlier this week.
- Fed is still seen pressure on inflation side of mandate.
- Right now Fed missing much more on inflation side relative to jobs of mandate.
- The pain from inflation is biting.
- Businesses are dealing with high uncertainty.
- Expects to see inflation tick up
- Businesses cannot absorb the cost increases anymore and will have to increase prices.
- Expects to see jobs market weakening into the end of the year.
- The economy is operating around eight long-term neutral rate. Does not have far to go to get 28 neutral rate.
- Calls policy a little restrictive.
- Reiterates that the jobs report is just one report.
- Before the next meeting will get another jobs report and two inflation reports. There is a lot more data to come.
- Will go into the next meeting with an open mind.
- Now is really tricky time for setting monetary policy.
- Has enormous respect for Fed chair Powell.
- Data will drive any thinking about monetary policy votes.
NASDAQ index is down -288 points
This article was written by Greg Michalowski at investinglive.com.
