Futures Point To Lower Open For Wall Street
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Wall Street Set To Open Mostly Lower
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Fed s Barkin: There s still a lot of room to grow in labor marketNEWS |
5/25/2021 12:37:48 PM GMT | By Eren Sengezer Lower-wage employee base has increased aspirations for what they need to go back to work, Richmond Federal Reserve Bank President Thomas Barkin said on Monday, as reported by Reuters.
Key quotes There s still a lot of room to grow in labor market; will take into the summer to unclog it. Do not think business travel and office work has gone away; they will come back with more flexibility. Upward wage pressure is very much a lower-wage thing; not seeing it in jobs with wages $15 and up.
5/25/2021 12:17:56 PM GMT | By Eren Sengezer Market-based inflation expectations have not escalated beyond the target, Richmond Federal Reserve Bank President Thomas Barkin noted on Tuesday and added that survey-based expectations remain stable as well, per Reuters.
Additional takeaways Challenges in workforce supply likely to last to summer. Watching very closely if will see sustained upward pressure on wages. The issue right now is no longer demand-side; it s supply-side.
Market reaction
The US Dollar Index largely ignored these comments and was last seen losing 0.27% on the day at 89.60. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before