Lockhart expresses concern about jobs, Fisher says Fed's credibility damaged


Atlanta Fed chief Dennis Lockhart reiterates Bill Dudley's cautious comments on the pace of the nascent U.S. economic recovery.

Speaking in New York, Lockhart highlighted recent "slowing" in job creation and expressed concern about the falling labor force participation rate. "Lower participation may mean somewhat lower potential for the economy," he observed. "You don't say," Zero Hedge quips.

Meanwhile, on the hawkish side, Dallas Fed President Richard Fisher says the Fed's decision to maintain the pace of its asset purchase program "undermined [the central bank's] credibility" and created more uncertainty.

10-year yield -2 bps, TLT +0.4%

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Comments (11)
  • wmateri
    , contributor
    Comments (577) | Send Message
     
    If Lockhart and the rest of the Fed doves wish to be nuanced about unemployment (using the labor force participation rate instead of headline unemployment) why aren't they also more nuanced about inflation? Does anyone really believe the official inflation numbers?
    23 Sep 2013, 01:40 PM Reply Like
  • fred1724
    , contributor
    Comments (67) | Send Message
     
    Only the MSM and the LIVs believe the Federal lies on inflation.
    23 Sep 2013, 01:43 PM Reply Like
  • wyostocks
    , contributor
    Comments (9112) | Send Message
     
    Just say it straight-----the economy is stalled at one to two percent growth and if the Fed starts to taper it will be zero or worse. QE forever until the SHTF.
    23 Sep 2013, 01:42 PM Reply Like
  • wigit5
    , contributor
    Comments (4365) | Send Message
     
    Lower participation rates = lower tax collection + higher social welfare costs no?
    23 Sep 2013, 01:43 PM Reply Like
  • Paulo Santos
    , contributor
    Comments (33043) | Send Message
     
    Higher social welfare costs are also the reason why you get a lower participation rate. It's a chicken and egg problem. What came first?
    23 Sep 2013, 02:00 PM Reply Like
  • BruceInKY
    , contributor
    Comments (444) | Send Message
     
    I dunno, but I'm sick of being the chicken.
    23 Sep 2013, 02:41 PM Reply Like
  • caupachow
    , contributor
    Comments (522) | Send Message
     
    can the feds credibility be damaged any further?
    23 Sep 2013, 02:13 PM Reply Like
  • wigit5
    , contributor
    Comments (4365) | Send Message
     
    no no no the question is did they have any in the first place?
    23 Sep 2013, 02:21 PM Reply Like
  • Robert Enstrom
    , contributor
    Comments (313) | Send Message
     
    How can a supposedly five year old recovery be "nascent?"
    23 Sep 2013, 02:21 PM Reply Like
  • Colin Lokey
    , contributor
    Comments (469) | Send Message
     
    Putting the recovery at "five years old" would mean it started the week Lehman collapsed.
    23 Sep 2013, 02:33 PM Reply Like
  • Zedlok
    , contributor
    Comments (11) | Send Message
     
    There's only so much monetary policy can do. Life is even more difficult when you have fiscal policy moving in the opposite direction.
    23 Sep 2013, 04:03 PM Reply Like
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