Federal Reserve's Schmidt: The employment report is good news; further rate cuts could lead to sustained inflation

Odaily Planet Daily reports that Federal Reserve’s Smith said the employment report is good news. Further rate cuts could lead to sustained inflation. Do not assume that last year’s labor market showed cyclical weakness; it may require artificial intelligence elements to address the slowdown in labor force growth caused by aging populations, low birth rates, and low immigration rates. Structural changes have reduced job creation levels, and the equilibrium point for employment growth may be around 40,000 to 50,000 new jobs per month. (Jin10)

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