Coin Bureau, relaying another source: Unemployment will rise to 4.1%

The window it was checked over

Unemployment rate: U.S. Bureau of Labor Statistics via FRED, figures as first published. The shaded span is the window the call was checked over; grey bands are recessions.

What was said around it

takes some time for these rate hikes to be felt by the economy as such the FED decided not to raise interest rates for now in the same breath however Jerome pointed to the SCP and said that most fed officials believe that more rate hikes will be appropriate later this year he also added that the FED will continue to draw down its balance sheet at de facto rate hike Jerome went on to say that the FED expects the economy to struggle because of higher interest rates and that the labor market remains strong despite some softening Jerome said that the FED expects unemployment to hit 4.1 percent this year and 4.5 next year a change which historically means a recession not surprisingly Jerome cited the CPI for CPI pce and core pce figures as the reasons why the FED needs to keep raising interest rates they are all above the 2 Target the Silver Lining Jerome said is that inflation expectations remain quote well anchored you can thank the CPI for that after reiterating that it will take time for rate hikes to affect the economy Jerome said that it's still unclear whether credit tightening will affect the fed's decisions for those unfamiliar it's believed that banks will reduce their lending because

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