LINTHICUM, Md. (Reuters) – Continued strong job growth and a low unemployment rate shows the Federal Reserve is not yet at the point where its efforts to battle inflation are risking a direct tradeoff with the central bank’s other goal of maintaining maximum employment, Richmond Fed president Thomas Barkin said on Friday.
“Getting inflation under control is critically important and at this point we are still at 3.7% unemployment and 216,000 jobs added,” per month, Barkin said, referring to the results of the newly-released December jobs survey. “We’re still at a point where inflation is over our target and unemployment is arguably at or below,” levels consistent with maximum employment, Barkin said in comments to reporters following a presentation to the Maryland Bankers Association.
(Reporting by Howard Schneider, Editing by Franklin Paul)
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