According to Odaily Odaily, Federal Reserve Chairman Schmid stated that the jobs report was good news, but further interest rate cuts could lead to persistent inflation. He cautioned against viewing last year's labor market as cyclically weak, suggesting that artificial intelligence may be needed to address the slowdown in labor force growth caused by an aging population, low birth rate, and low immigration. He added that structural changes have reduced job creation levels, and the equilibrium point for job growth is likely around 40,000 to 50,000 new jobs per month. (Jinshi)
Federal Reserve's Schmid: The jobs report is good news; further rate cuts could lead to persistent inflation.
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