Fed rate hikes likely even with weakening jobs outlook

The Washington Examiner cited CEI’s Ryan Young regarding the Federal Reserves target on employment and inflation.

So as long as the unemployment rate doesn’t spike in the forthcoming August jobs report, the Fed’s monetary policy committee will focus instead on the fact that inflation is above its target. The Fed has a dual mandate to pursue full employment and keep inflation in check.

“On the dual mandate side of things, Warsh has been pretty clear that he’s prioritizing the inflation side of it, so even a pretty harsh jobs report might not dissuade him from prioritizing inflation control,” Ryan Young, a senior economist at the Competitive Enterprise Institute, told the Washington Examiner.

Read the full article at the Washington Examiner.