Fed's Kaplan: Still think job growth will be strong this year

Eren Sengezer FXStreet

Dallas Federal Reserve Bank President Robert Kaplan noted on Monday that he expects the job growth to be strong in the remainder of the year despite the disappointing April labour market report, as reported by Reuters.

Additional takeaways

"Economic effect of pipeline shutdown will depend on the length of shutdown; for now it's minimal."

"Demand from these businesses to hire is greater than what was reflected in April jobs report."

"If you've got strong demand, there are limitations to monetary policy in increasing supply."

"As we approach substantial further progress, it will be healthy to start talking taper sooner than later."

"Would be good to discuss the efficacy of bond-buying versus side effects, unintended consequences."

Market reaction

The greenback remains on the back foot following these remarks and the US Dollar Index was last seen losing 0.16% on the day at 90.08.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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