Atlanta FED president Dennis Lockhart thinks so. A number above 165,000-170,00 along with a tick up in wages would prompt the Fed to start hiking rates in December, Goto said.
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Federal Reserve chair Janet Yellen told Congress Wednesday that the Fed could raise its key interest rate at its next meeting in December.
Adding to the December policy debate was William Dudley, the influential president of the NY Fed and a permanent voter on policy.
Once considered an unlikely scenario, a December rate increase seems more likely by the day. The dollar index rallied 0.7% and gold fell to its lowest level since 2 October. Neither EconoTimes nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon. The U.S. Department of Labor reported on Friday morning that nonfarm payrolls rose by a whopping 271,000 in October.
“We’ve been saying a rate hike in December is possible”. While the market still remains a long way away from the central bank’s so-called “dots”, a compilation of Fed member projections, traders’ expectations are inching toward the path policy makers have laid out for interest rates.
Ms. Yellen had said that in the event that the incoming information supported economic growth, an interest rate hike in “December would be a live possibility”. Their monetary policy is one of the cornerstones of the U.S. economy, and by and large they do a good job at controlling interest rates and inflation.
Gold is about $30 shy of a 5-1/2-year trough of $1,077 hit in July.
WALL STREET: The Dow Jones industrial average lost 4.15 points, or less than 0.1 percent, to 17,863.43 on Thursday.
As Taiwan and South Korea are fierce competitors in the global market, the won’s movement is usually watched closely by the local central bank, which has been eager to keep the Taiwan dollar cheaper in a bid to protect Taiwanese exporters, dealers said. The United States dollar was stronger even ahead of Ms Yellen’s testimony following upbeat data on the U.S. services sector, while the New Zealand dollar was weaker after prices fell for a second GlobalDairyTrade auction and employment data printed softer than expected.
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The economic outlook was further brightened by another report on Wednesday showing the trade deficit hit a seven-month low in September as exports rebounded, a tentative sign the worst of the drag from the stronger dollar may be over.
