Federal Reserve mouthpiece: For the Federal Reserve, slower job growth may not presage economic weakness

"Federal Reserve mouthpiece" Nick Timiraos wrote that Federal Reserve officials said they may focus more on unemployment than job growth in assessing whether labor demand is slowing. The reason is that they expect job growth to naturally slow as tighter border controls reduce the number of people available for work. When job growth slows and the unemployment rate remains stable, it may indicate that labor supply is falling faster than demand. The Fed's bottom line is that as long as the unemployment rate remains at current levels, the Fed is not necessarily concerned about slowing job growth. (Jin Ten)