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16th Jun 2016 05:17U.S., Economic Monitor

If the Fed really believed its own rhetoric--"Inflation is expected... to rise to 2 percent over the medium term as the transitory effects of past declines in energy and import prices dissipate and the labor market strengthens further"--it would have raised rates yesterday, given the very long lags between policy action and the response from the real economy.

fed payroll yellen labor market gdp ism non-manufacturing ism cpi

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Keywords for: 16 June. 2016 Don't Fret Over One Jobs Report, Says Yellen, Doing Exactly That

fed, payroll, yellen, labor market, gdp, ism non-manufacturing, ism, cpi,