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    Rosengren (Fed) comments NFP

    • important to see if the "disappointing’ NFP on Friday was a one-off, an anomaly or a broader weakness 
    • inflation is moving towards the 2% goal, there is evidence on this
    • there should be enough growth in the economy to secure gradual rate hikes, if the economy continues to imrpve gradually
    • Fed relatively close to fulfilling the dual mandate, thanks in part to QE
    • the experience of other central banks with negative rates is mixed, results do not seem particularly promising

    This is an act of gently downplaying the NFP, that hit the USD hard on Friday, but it can do little about the disappearing rate hike expectations without a big rebiund in employment with some upward revision of May in the next labour market report from the US.

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