© Reuters
Investing.com – Important comments came from Fed members after the weaker-than-expected employment data came out hours ago. Raphael Bostick supported that the United States does not need any new interest rate hikes.
To view employment data and federal expectations
Bostick remarks
Fed member Rafael Bosti said the Fed should keep rates in hawkish territory in 2024 as it is now.
Bostick expressed his satisfaction with the employment figures, saying that they came in as expected, indicating that the Fed is on its way to reduce inflation to the 2% target.
Bostick stressed that there is no longer a need for further rate hikes in light of the moderate and good labor market decline.
Honest Austan Goolsby
This was agreed by the Fed member, Austin Goolsby, who said that the employment data came out as he expected perfectly.
And this data puts Goolsby said that the job market is softening a little bit, but it’s still very strong.
Goolsby was satisfied with the latest inflation data, specifically product price inflation.
Goolsby said we have to think more about how long we’re going to leave inflation unchanged.
Austin commented on Fitch’s downgrade of the US credit saying that it doesn’t make a difference.
Goolsby ended his remarks by saying that what is happening to the labor market is a balance that was required to happen, saying that he hopes for a smooth decline in inflation without harming the US economy.
The American fell strongly after the data, losing 0.73% to 101.6 before the weekly close on Friday.
While (Futures) rose by 0.41%, to $ 1976.9 an ounce. And (Spot) rose 0.39% to $ 1941.66 an ounce.
The two-year yield collapsed 1.8% to 4.808%. Treasury yields for 10 years fell by 2.79% to 4.074%.
Oil rose strongly, as it rose to $83.00, up by 1.78%, and rose by 1.53%, to $86.44.
2023-08-04 17:41:00
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