Fed’s Fischer Says Job Gains Contrast With Poor Growth in U.S.
- Vice chairman: Average hourly earnings closer to 3 percent
- Says growth isn’t close to what used to be viewed as ‘normal’
Jobs Data Sets Up Question of When Fed Hikes Rates
This article is for subscribers only.
Federal Reserve Vice Chairman Stanley Fischer said U.S. job creation was continuing at a pace “fully consistent” with lower unemployment, but continued to contrast with a weak overall economic expansion.
Hours after the Labor Department reported that U.S. employers added 156,000 people to payrolls in September, Fischer said joblessness was close to its lowest sustainable level. Still, he added, “growth isn’t close to what we used to think of as normal.”