Federal Reserve's Quarles: Economic growth remains fairly stable, the Federal Reserve will not overreact
Federal Reserve's Goolsbee stated that despite weak employment data, economic growth remains relatively stable and there will be no excessive action. He pointed out that the margin of error for monthly employment data is 100,000, so one cannot jump to conclusions. Goolsbee emphasized that if the economy deteriorates, the Federal Reserve will take measures to address it
Jin10 Data, August 5th news, Federal Reserve's Goolsbee reiterated that the Fed's job is not to react to a weaker labor data for one month. Last Friday's weaker-than-expected employment data raised concerns about economic recession and led to the collapse of global stock markets. He said there are some cautionary indicators, but economic growth continues to remain at a fairly stable level. "When you see employment data weaker than expected, but it doesn't look like a recession yet, you should look ahead to the economic trend. If the economy exceeds normal levels, then the situation is different. In my view, we need to make a stronger response." Goolsbee emphasized that the margin of error for monthly employment data is 100,000, so conclusions should not be drawn hastily. When asked about the market's call for an emergency rate cut, Goolsbee said that options including rate hikes and cuts have always been on the table, and if the economy deteriorates, the Fed will take measures to repair it