Fed's Barkin remarks on US economy 🗽EURUSD drops to 1.157

Fed Member Thomas Barkin remarks (the highlight)

• If the workforce does not increase, economic growth will depend entirely on productivity.
• Growth in the workforce may be heading to around 0%.
• There is a high risk that, in the future, there will be more jobs than workers.
• Demand is healthy, but it is not translating into hiring.
• Demand remains healthy. The challenge is with the labor market.
• The overall sense is that the economy remains healthy.
• Lower rates might boost demand for homes, but they won't fix the supply issue.
• Housing supply is still constrained as demand has grown.
• The high housing prices today may still represent a supply shortage rooted in the 2007 to 2009 financial crisis.
• The upside of more consensus is the ability of markets to set expectations.
• Policy is still modestly restrictive.
• The jobs market is somewhat weaker than the data suggests.
• Without compelling data, it is hard to get a broad consensus.
• Inflation does not appear headed higher, but also not clear that it is heading back to 2%. Unemployment is likely to edge higher, but perhaps not by much.
• It's hard to declare victory on either mandate, but it's also clear not that either requires a response.
• Inflation is above target, but it's not likely to accelerate.
• The labor market is softening, but I don't think it will soften that much more.

EURUSD (D1 interval)

Source: xStation5