Federal Reserve Bank of Dallas President Richard Fisher, who votes on monetary policy this year, said the U.S. labor market has been hindered by a lack of trained workers and not enough employees in Texas where demand has been strong.
Treasuries headed for a weekly loss before jobs data Meritz Securities Co. said will lead the Federal Reserve to further cut its debt-purchase stimulus and usher in a “tightening season” of higher interest rates.
Federal Reserve Bank of St. Louis President James Bullard defended Janet Yellen’s comments on interest-rate increases, saying her outlook is in line with private surveys on when the central bank might start tightening policy.
The dollar was set for its biggest weekly advance in two months versus major peers before Dallas Federal Reserve President Richard Fisher speaks today amid prospects the central bank will pare stimulus.
Federal Reserve Bank of Dallas President Richard Fisher, who has supported scaling back of the Fed’s bond buying, cautioned that there are signs in financial markets indicating the program may be emboldening investors to take excessive risks.
The dollar fell versus its major peers for the first time in four days, paring a weekly gain, as investors weighed prospects for U.S. economic growth against signals the Federal Reserve will raise interest rates next year.