Central Banks
Fed Officials Tout Job-Market Slowdown, Seek to Pivot From Hikes
- Debate to shift from how high to hike to how long to hold
- Atlanta, Chicago Fed chiefs speak in Bloomberg TV interviews
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Two Federal Reserve officials said slower US employment gains suggest the labor market is coming into better balance, arguing the central bank may soon need to pivot to thinking about how long to hold interest rates at elevated levels.
“I expected the economy to slow down in a fairly orderly way, and this number — 187,000 — comes in continuing that pace,” Atlanta Fed President Raphael Bostic said Friday on Bloomberg Television’s Wall Street Week with David Westin, referring to the July hiring figure in a monthly jobs report published earlier in the day.