U.S. FEDERAL RESERVE CHAIR: LABOR MARKET MAY STILL GET EVEN STRONGER
Dec 3, 2019
In a recent edition of the NMMA’s Currents newsletter, they stated the New York Times reported that officials at the Federal Reserve “have increasingly acknowledged that the labor market might have more room to run, and Chair Jerome H. Powell made the point in perhaps the plainest way yet during a Monday evening speech.” Though the “job market is strong, benefiting low-wage workers and pulling prime-age adults back into the labor pool, ‘there is still plenty of room for building on these gains,’ he told a room full of local business leaders assembled in Providence.” He went on to say that monetary policy is in a good position to support the labor market and return inflation to a two-percent objective. Added Powell, “If the outlook changes materially, policy will change as well.”
American wage gains and inflation could have an effect on the Canadian marine market in the form of rising prices and possibly rising wages in Canada as well.
