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Fed's Bullard: Labor market slack is not significant
Posted to: Around The Web
Friday, August 22, 2014 4:32 AM

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JACKSON HOLE (MarketWatch) - St. Louis Fed President James Bullard said Friday he argued against adding the word "significant" to describe labor market underutilization in the central bank's latest policy statement. The Fed's policy statement said that "a range of labor market indicators suggests that there remains significant underutilization of labor resources." In an interview with CNBC, Bullard said that that there is some slack in the labor market but it is not significant. He said the low unemployment rate and strong nonfarm payroll growth send clear signals about the state of the labor market and other, more specialized measures, like labor market participation rate, don't add much information and have historically been considered outside the purview of


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