Federal Reserve Bostic: Today's jobs data won't change the Fed's decision this week

The Federal Reserve's Mr. Bostic said today's employment data was significant and revised to a large extent, indicating that the job market was slowing from its previously strong level. However, Mr. Bostic said the Fed still needed to make further judgments about the direction of hiring trends. He did not think today's employment data would change the Fed's decision to leave interest rates unchanged this week, and he still expected a rate cut this year. Mr. Bostic said the bigger risk this week was inflation, which was still facing a two-way risk, that it could either continue to decline or accelerate again. On the issue of tariffs, Mr. Bostic said the Fed could not ignore the impact of tariff policy if it eventually had an impact. He added that it will take some time for companies to adjust their prices in response to the tariff increase.