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13 Oct 2015
Fed Fischer: Nonfram payrolls still on track - Nomura
FXStreet (Guatemala) - Analysts at Nomura Bank noted the recent remarks from Fed Vice Chair Fischer.
Key Quotes:
"Fischer stated that most participants, myself included, anticipated at the September FOMC meeting that if the economy progressed as expected it would entail beginning to raise rates by year end."
"He stated that while the last two non-farm payroll reports have been disappointing, the job market’s prospects for further improvement look good overall. He also spoke in more detail on the recent focus given in FOMC statements to international developments. He stated that it was only natural, given the increasing influence of international developments on the US economy, both through imports and exports, and through capital account developments."
"Nonetheless the Fed does not currently anticipate that the effects of these recent developments on the US economy will prove to be large enough to have a significant effect on the path for policy. He added as well that many foreign central bankers want the Fed to get on with raising rates and they feel prepared for lift off."
Key Quotes:
"Fischer stated that most participants, myself included, anticipated at the September FOMC meeting that if the economy progressed as expected it would entail beginning to raise rates by year end."
"He stated that while the last two non-farm payroll reports have been disappointing, the job market’s prospects for further improvement look good overall. He also spoke in more detail on the recent focus given in FOMC statements to international developments. He stated that it was only natural, given the increasing influence of international developments on the US economy, both through imports and exports, and through capital account developments."
"Nonetheless the Fed does not currently anticipate that the effects of these recent developments on the US economy will prove to be large enough to have a significant effect on the path for policy. He added as well that many foreign central bankers want the Fed to get on with raising rates and they feel prepared for lift off."