Fed’s Goolsbee: Mild cooling in labor market

Agustin Wazne FXStreet

President of the Federal Reserve (Fed) Bank of Chicago, Austan Goolsbee, stated in an interview with CNBC on Thursday that the unemployment rate remains essentially unchanged and that he cannot rely on inflation being transitory.

Key Quotes

Most of labor market indicators show stability in the market.

Should be careful taking payroll job number drop as an indicator of job market.

Mild cooling in labor market.

Unemployment rate basically unchanged.

A little downside risk to labor market.

There's a lot of stability.

Recession starts are not usually low hiring, low firing.

Low hiring, low firing is character of an uncertain environment.

Maybe reluctant to continue rate cutting cycle.

Very little private sector information about inflation, will some time before we see any problems.

Makes me more uneasy with frontloading rate cuts.

Can't count on inflation being transitory.

Consumer spending strong, growth is strong.

Low hiring rate is weakest part of job market.”

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Canadian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.46%	-0.53%	-0.40%	-0.10%	-0.20%	-0.12%	-0.39%
EUR	0.46%		-0.07%	0.05%	0.36%	0.26%	0.34%	0.07%
GBP	0.53%	0.07%		0.12%	0.43%	0.34%	0.42%	0.14%
JPY	0.40%	-0.05%	-0.12%		0.32%	0.22%	0.28%	0.03%
CAD	0.10%	-0.36%	-0.43%	-0.32%		-0.09%	-0.02%	-0.29%
AUD	0.20%	-0.26%	-0.34%	-0.22%	0.09%		0.08%	-0.19%
NZD	0.12%	-0.34%	-0.42%	-0.28%	0.02%	-0.08%		-0.27%
CHF	0.39%	-0.07%	-0.14%	-0.03%	0.29%	0.19%	0.27%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Author

Agustin Wazne

FXStreet

Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.

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