More, and more, and more, from San Francisco Fed President John Williams
- Decline in broader measures of unemployment in September jobs report was 'positive'
- Wage data in monthly jobs report is not that informative
- Saw nothing in September jobs report that undercuts narrative of strengthening labor market
- Surprised that people thought September jobs report was 'dismal'
- If hit in future by a shock, fed could consider negative rates, QE, forward guidance
- Has been a disappointment that we haven't seen wage growth
- To me the decision in September was a close call; fed vote of 9-1 reflects consensus orientation
- Recent evidence on China should take away some concerns it will have a hard landing
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Is it just me or does a 9-1 vote not sound like a 'close call' at all? If my footy team lost 9-1 I might call it 'close' I suppose. It would depend on how sentimental I was feeling at the time I guess.
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ps. Earlier comments from Willaims today:
- Fed's Williams, more again: May have lower global growth, lower rates than in past
- More from the Fed's Williams: Seeing positive signs from the labor market
- Fed's Williams repeats that Fed liftoff warranted later this year