Atlanta Fed President Dennis Lockhart has called for a refreshed explanation of how unemployment or broader employment conditions will factor into Fed policy moves. A new macroblog post considers some of these broader clues in the labor market.
The fed funds rate has been at the zero lower bound for five years, and several researchers have proposed a "shadow rate" to quantify the stance of monetary policy. A new monthly feature provides estimates from Cynthia Wu and Fan Dora Xia's model.
The economy added 175,000 nonfarm jobs in February, and the unemployment rate rose to 6.7 percent. Check out the Jobs Calculator and the labor market spider chart to learn how the latest data from the U.S. Bureau of Labor Statistics affects the jobs outlook.
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