When it comes to Friday's release of the January jobs data,
“we didn’t expect it to be this strong,” Powell said.
While declining to say whether knowing about the vigor of
the data would have affected last week's 25 basis point rate
rise, Powell said the data “shows you why this will be a process
that takes a significant period of time," when it comes to
tightening monetary policy.
(Reporting by Michael S. Derby; Editing by Chizu Nomiyama)
By Michael S. Derby
Feb 7 (Reuters) - Federal Reserve Chairman Jerome Powell
said Tuesday very strong jobs data released last week simply
affirms that the central bank has some way to go on raising
rates.
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