Chief Economist and Managing Director, Jeanette Garretty appeared on Bloomberg Daybreak Australia to discuss her key takeaways from the US jobs data and outlook for the US economy. “The jobs report was a good jobs report,” says Garretty. “The wage growth was a little bit hotter than expected, but the Fed has said all along Jerome Powell emphasized this in the last press conference that they don’t really see any threat to the inflation track that they’re looking at coming from labor costs – sort of watching other things, but they’re not too worried about that. It will be interesting to see what earnings reports show that companies are doing to manage those labor costs and get productivity up so as to mitigate those cost increases.” Watch here.
