Fed's Bostic: Will be watching the Friday jobs report closely
Source Fxstreet
Federal Reserve (Fed) Bank of Atlanta President Raphael Bostic noted on Monday that further deep cuts could be warranted from the Fed if the US labor market shows unexpected weakness.
Key highlights
I am open to another half-percentage-point rate cut if labor market shows unexpected weakness.
Baseline case is for an 'orderly' easing with inflation expected to continue slowing and job market to hold up.
I do not want to get overconfident on inflation given core personal consumption expenditures price index remains 2.7%.
Business contacts continue to say they do not expect layoffs.
I will be watching upcoming jobs data closely; if employment growth slows much below 100,000 jobs, it would warrant closer questioning of what is happening.
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