The regional head of the Federal Reserve thinks the economy is strong, but he still has his concerns.
Raphael Bostic admits a certain amount of uncertainty is always present in the job market and with inflation. But in his quarterly message he called uncertainties these days “manifold.”
" Inflation has come down considerably, and the labor market has cooled but remained strong with low unemployment and robust monthly job growth," he said. "But at the same time, we face widespread uncertainty."
President Donald Trump’s economic tough talk of tariffs, large scale job cuts in the federal government and reducing immigration have weighed on consumers. The University of Florida’s monthly consumer sentiment survey found Floridians’ optimism about their financial situation next year fell slightly in January.
Bostic is not a voting member of the central bank’s interest rate setting group this year.
READ MORE: Regional economy begins new year in decent shape - but with new and old uncertainties
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