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Fed's Powell: Wage increases still above where they will wind up in equilibrium || says labour market cooling off
FED'S POWELL: WAGE INCREASES STILL ABOVE WHERE THEY WILL WIND UP IN EQUILIBRIUM || SAYS LABOUR MARKET COOLING OFF
— First Squawk (@FirstSquawk) July 2, 2024
Added at 9:50am
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Powell dismisses the focus on core services ex-housing in favor of focusing on the labor market.
— Nick Timiraos (@NickTimiraos) July 2, 2024
"You can see the labor market is cooling off, appropriately so, and we’re watching it very carefully."
"Indeed it looks like you’re doing just what you would want it to do."
Added at 9:50am
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Fed's Powell: “We don’t’ see ourselves getting back to 2% inflation this year or next year, maybe late next year."
— Michael S. Derby (@michaelsderby) July 2, 2024
Added at 9:54am
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FED'S POWELL: POLICY IS STILL RESTRICTIVE AND IT'S APPROPRIATE.
— FinancialJuice (@financialjuice) July 2, 2024
Added at 9:57am
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traderathome
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