Fed's Mester calls jobs growth 'solid,' sees rate hike: CNBC

October 7, 2016 9:13 AM EDT

Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.

(Reuters) - U.S. jobs growth last month was "solid" despite having slowed from previous months, Cleveland Fed President Loretta Mester said on Friday, adding she continues to believe it appropriate for the Federal Reserve to raise interest rates.

"It's a solid number," she said on CNBC of the jobs report, which showed nonfarm payrolls rose 156,000 in September, below the 175,000 expected by economists. "This is very consistent with what we expected to see."

Mester noted that U.S. incomes continued to rise last month. "I think we're at full employment... It makes sense to move up the rate another 25 basis points," she said, referring to a modest quarter-point rate hike.

(Reporting by Jonathan Spicer and Rama Venkat Raman; Editing by Chizu Nomiyama)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Fed, Reuters

Related Entities

Nonfarm Payrolls

Add Your Comment