Fed’s Bostic Expects Strong Jobs Data

The President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Thursday that it is likely that last month has probably witnessed a strong surge in new job opportunities that might have exceeded a million.

April’s reading of nonfarm payrolls and the unemployment rate are due to be released on Friday by the United States Bureau of Labor Statistics.

Bostic expects the jobs report will show a really strong number that would be encouraging but likely would not lead the Fed to consider reducing its quantitative easing measurements by raising interest rates or scaling back its massive asset purchases.