Jerome Powell, Wall Street Journal, Federal Reserve discussed on WSJ What's News
And. What's news? I'm Charlie Turner in New York for the Wall Street Journal on their first day in power house. Democrats passed some spending bills aimed at reopening. The government will get an update in a moment. From the Wall Street Journal's Natalie Andrews, I hear some headlines amid global tensions and stock market volatility. The US labor market has been a sea of calm. The Labor Department said Friday that the economy added three hundred twelve thousand non-farm jobs in December with the unemployment rate rising to three point nine percent. The job growth figure was higher than expected and the rising jobless rate is an indicator that more people are looking for work and average hourly earnings rose a seasonally adjusted four tenths percent from November and three point two percent. From December two thousand seventeen the best full year gained since two thousand eight gusts fo- is chief economist at PNC financial services group. He says robust hiring indicates that despite trade issues and the government shutdown. The nation's economy will remain strong. I think there's a lot of. Geo-political uncertainty out there. But I think the economic fundamentals remain good. I would expect absent a much bigger geopolitical shock that the US economy will continue to expand in the near term and foce says the Federal Reserve will remain cautious with regard to raising interest rates in two thousand nineteen. I still think given the volatility that we're seeing in the stock market right now that I would expect it the fed is going to take its time in raising rates. We don't expect to see another increase in the fed funds rate until the second half of two thousand nineteen because I think the fed has a little more room to be cautious in respond to some of the volatility that we've seen in the stock market. Speaking of the fed chairman Jerome Powell said Friday that muted inflation will give the central Bank patients and greater flexibility to set policy in the year ahead, and that the fed wasn't on a fixed path to push benchmark interest rate hire mR, Powell's comment wasn't response to a question about the recent market volatility. The chairman was speaking on a panel with former fed leaders at a conference in Atlanta, also. So Mr Powell addressed speculation that President Trump's unhappiness over monetary policy might lead to his removal as fed chairman, Mr Powell said he would not resign. His post if Mr. Trump asked him to do so Mr. Powell's mention of patients with regard to interest rates put a charge into financial markets Friday. With stock soaring and a rebound from the previous day's massive selloff for the latest updates on. Stock markets had to wsJcom or WSJ podcasts. Ford is recalling more than nine hundred fifty three thousand vehicles worldwide to replace Takada passenger airbag inflators that can explode and hurled shrapnel..