Federal Reserve Remarks on Labor Market

Federal Reserve Bank of Atlanta President Raphael Bostic stated on Tuesday that the cooling labor market does not imply sluggishness, as job gains remain strong.

> "The labor market is slowing, but I wouldn't say it's slow," Bostic remarked during a meeting with foreign consular officers in Atlanta. He noted that monthly job creation is "pretty robust."

Bostic's insights followed Friday's nonfarm payroll report, which indicated that the U.S. economy added 245,000 jobs in September, exceeding the expected 150,000.

The Atlanta Fed chief expressed caution regarding inflation, acknowledging that while it has moderated, it remains "too high." He emphasized the ongoing efforts needed to bring inflation back to the 2% target.

> "That's still quite a ways to go and I want people to understand that I'm still laser-focused on the inflation target," Bostic concluded.