Economics
Fed Case for Fresh Action Gets Stronger on Soft U.S. Jobs Report
- Extending maturity for Treasury purchases likely, Feroli says
- Evans not opposed to more accommodation, unsure of timing
This article is for subscribers only.
The case for more Federal Reserve action to support the economy was boosted on Friday by a “disappointing” November U.S. payroll report, focusing attention on its upcoming meeting as central bankers reiterated calls for more fiscal relief.
The figures showed that the labor-market rebound markedly slowed last month, indicating the surge in Covid-19 cases is hitting workers and curbing the broader economic recovery. That may push the central bank’s Federal Open Market Committee to make changes to their bond-buying program when they meet Dec. 15-16 to discuss next steps for monetary policy, Fed watchers said.