Speaking after the release of the latest figures on employment, Philadelphia Fed President Patrick Harker said job creation is still strong. “We had 138,000 jobs in May, which is a good number,” he said at the Pennsylvania Economic Association Annual Conference in Reading. “The 100,000-jobs-a-month rate is going to be more than sufficient to keep up with population growth. That’s more or less the rate we’ll need in a normal, healthy economy.” Harker says he still thinks three rate hikes of 25 basis points each as appropriate for the year.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News