Powell: Recent strong jobs data may be slightly "exaggerated"
2024-06-13 00:46:45
Overall, a broad range of indicators suggest that conditions in the labor market have returned to levels seen just before the epidemic, relatively tight but not overheated, Powell said at the rate-setting news conference. Members of the Federal Reserve's FOMC expect continued strength in the labor market. However, Powell said in his remarks that the recent strong employment data may have been slightly "overstated" and hinted that benchmark data may be being revised.
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