Fed's Bostic:The labor market is performing incredibly well
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Atlanta Fed Pres. Rafael Bostic is speaking
- Labor market is performing incredibly well.
- Latest inflation number show careful monitoring still needed.
- Deployment of AI will likely mean fewer workers are needed in some industries.
- May be a wide gap in skills between the jobs destroyed by AI and those created by it
- The Fed is sitting tight until there is more clarity
- The Fed will not move until it has enough information to do so
- Tariff discussion has lots of moving parts. Impact will depend on final details
- Patience suggests that the next cut will happen later in order to have time to get more information.
- Would not be comfortable moving again on rates until there is more clarity on direction of the economy.
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