Eric Rosengren, a voting member of the Fed’s policy-setting board, spoke at the South Shore Chamber of Commerce in Quincy, Massachusetts and said that “despite headwinds from abroad” the US labor market continues to “gradually tighten” while inflation is “slowly returning” to the Fed’s goal of 2 per cent annual growth.
The jobs market may “reach or even exceed full employment over the next year”, Rosengren added.
These comments are significant since Rosengren is a dovish-leaning Fed official.
The Fed's next regularly scheduled FOMC monetary policy meeting is September 20-21.
As I reported earlier this morning, the Fed's very dovish member Lael Brainard has just popped up on the calendar with a speaking engagement on Monday. That's one day before the blackout period before the September FOMC meeting.
Some view Brainard's newly scheduled Monday speech as an indication she will signal that she is comfortable with a September rate hike.
But then Austrian-lites hold a different view.
Dallas Fed President Rob Kaplan has two separate speaking engagements later today.@WenzelEconomics More boy who cried wolf bs.— JD Matter (@matterpol) September 9, 2016
Please, there will be/can be NO interest #rate raise...at least by the #FederalReserve