12 May 2015
US jobs report shows "good momentum" for the rest of 2015 – Fed’s Williams
FXStreet (Mumbai) - Speaking to CNBC, San Francisco Federal Reserve (Fed) President John Wllliams acknowledged the positive developments in the US labour market, saying that data released on Friday showed "good momentum" for the rest of this year.
Williams, a voting member of the Federal Open Market Committee, said that while he was seeing progress in the jobs creation, the "real question" remains whether inflation would move towards the Fed's target.
Key Quotes:
"I think that GDP number in Q1 is more an anomaly than a signal of where the economy is going,"
"I really see this as being more of a reflection of where globally long term rates are and returns are, and that pushes stock market up and other financial markets up,"
I'm not overly concerned about threats to financial stability out of this, but it's definitely something we watch carefully."
Williams, a voting member of the Federal Open Market Committee, said that while he was seeing progress in the jobs creation, the "real question" remains whether inflation would move towards the Fed's target.
Key Quotes:
"I think that GDP number in Q1 is more an anomaly than a signal of where the economy is going,"
"I really see this as being more of a reflection of where globally long term rates are and returns are, and that pushes stock market up and other financial markets up,"
I'm not overly concerned about threats to financial stability out of this, but it's definitely something we watch carefully."