Monday, March 14, 2011

Fed NY Bank Pres “Encouraged” by Latest Growth

William Dudley, Federal Reserve Bank of New York President, described the recent growth in manufacturing jobs in the US as “particularly encouraging” in a speech delivered thin morning in Flushing, New York.

“This makes me more confident that job growth in January was temporarily depressed by unusually bad winter weather.” Other labor market indicators, including claims for unemployment insurance benefits, “have also shown improvement recently,” Dudley said.

Source: Bloomberg

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