Asking about takeaway from jobs report and outlook for Fed policy
Steve Liesman
Beth Hammack
Mixed jobs report shows further softening in labor market but elevated inflation, highlighting difficult balance for monetary policy
Probing downside risk to employment given robust payroll but unemployment rate increase
Steve Liesman
Beth Hammack
Not making too much of one number, complementing with other data including ADP and layoff notices showing slight increases
Questioning understanding of inflation side without official data
Steve Liesman
Beth Hammack
Good understanding of inflation from business outreach, seeing softening demand but aggregate spending holding up
Noting markets not showing inflation concern via inflation expectations
Steve Liesman
Beth Hammack
Contained inflation expectations helpful but must consider real impact on individuals facing significant cost pressures
Asking about December rate decision given majority not wanting hikes
Steve Liesman
Beth Hammack
Need to continue restrictive policy as inflation still too high with recent indicators trending wrong direction