Chicago Federal Reserve Bank President Austan Goolsbee remarked that he feels increasingly confident about the stabilization of the US labor market. According to Goolsbee, the job market is stabilizing at levels resembling full employment rather than deteriorating into something worse.
Key Points from Goolsbee’s Remarks:
Over the past several months, he has become more comfortable with the idea that the labor market is reaching a balanced, full-employment-like level, rather than facing a significant downturn.
Goolsbee highlighted a broad improvement in labor market indicators, suggesting less deterioration than previously feared.
He believes that the trends observed last summer now appear to be a benign adjustment from an overheated job market to a more balanced one, rather than the beginning of a recession.
Market Reaction: In response to these positive comments about the labor market, the US Dollar Index (DXY) has moved slightly higher by 0.01%, trading at 108.95 as of the latest update.
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