Monexnews-the unemployment rate will drop below 6.5% in June 2014, according to the President of the St. Louis Federal Reserve Bank, James Bullard. The Level has been set as the target for the Fed to consider a rise in interest rates.
In a speech at New York University's School of Business on Thursday, Bullard says that the unemployment rate is a key signal the health of the labor market, though still needed more data to decide policy tightening.
Fed policy makers have previously said that the level of 6.5% penganguran would not immediately trigger a rise in interest rates, but it will encourage discussion of potential next steps. (vid)
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