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"But I would say that an expectation of higher near-term policy rates does not appear to be causing the increase in longer-term rates." The interest rate on the 10-year Treasury bond has risen roughly a percentage point since the summer, breaching the 5% level late last month before dropping in recent days to its current level around 4.64%. The Fed has not raised its policy rate since July. Cook did not comment on her specific view of the Fed's policy rate, focusing instead on an overview of financial stability issues. In her overview of financial stability, Cook said she felt that the banking system had weathered the stresses of last spring, and "remains sound and resilient overall."

Persons: Lisa DeNell Cook, Ken Cedeno, Lisa Cook, Cook, Jerome Powell, Howard Schneider, Paul Simao Organizations: Governors, Federal Reserve System, Banking, Housing, Urban, Capitol, Washington , D.C, REUTERS, Rights, Federal, Duke University, Thomson Locations: Michigan, Washington ,, U.S

While more than half of banks reported tightening business lending standards in the second quarter, just 35% said they cranked down further in the third quarter, with about 62% keeping standards the same. Demand for commercial and industrial loans weakened most among small firms, with more than half of banks saying credit demand had fallen among firms with annual sales of less than $50 million. About 39% of bank loan officers said loan demand had fallen among larger firms in the third quarter, compared to nearly 60% in the second quarter. For households, 86% of loan officers said they had kept standards for home mortgages about the same in the third quarter, though 12% said standards had gotten tighter. Just over 5% of banks said they had tightened standards in the second quarter.

Persons: Banks, Daniel Silver, Morgan, Howard Schneider, Paul Simao Organizations: Federal Reserve, Reuters, Fed, Thomson Locations: U.S

The monthly data does comes with a footnote: The headline job gains of 150,000 were depressed by a United Auto Workers strike. But even accounting for that the number was close to the 183,000 monthly pace of job growth sustained for the 10 years before the pandemic, from 2010 to 2019, and to that extent looked "normal" after years of outsized job gains. The pace of annual wage growth eased down to 4.1% in October in a continuing decline, while the month-to- month increase of 0.2% annualizes to around 2.4%, within the Fed's comfort zone. If labor force growth is coupled with an easing of open jobs, it could show a job market moving closer to balance. But if consumption remains strong and drives still-high numbers of openings, then a stall in labor force growth could reignite wage pressures.

Persons: Jerome Powell, Howard Schneider, Andrea Ricci Organizations: Federal Reserve, United Auto Workers, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S

Bond yields fell, and traders of contracts tied to the Fed's policy rate now see only a 12% chance of a rate hike by January, down from 30% before the release of the employment report. Rate futures pricing now reflects a better-than-even chance of a Fed rate cut by May of 2024, with several more cuts expected later next year. U.S. central bankers themselves are not even thinking about rate cuts, Fed Chair Jerome Powell said this week after the Fed kept its benchmark overnight interest rate steady in the 5.25%-5.50% range. "Continued upward momentum would be troubling, and hopefully this recent rise levels off as the labor market recovery continues," said Indeed.com's Nick Bunker. Still for now, most of the worries about the labor market appear to be focused on what might, or might not, happen next rather than on the evidence so far.

Persons: Jerome Powell, Kevin Lamarque, nonfarm, Bond, Powell, Thomas Barkin, Barkin, Michael Feroli, Nick Bunker, Sharif, Julie Su, Ann Saphir, Shristi Achar, Tomasz Janowski, Christina Fincher, Paul Simao, Chris Reese Organizations: Federal, Committee, Federal Reserve, REUTERS, Labor Department, U.S, Fed, Reuters Graphics Reuters, Richmond Fed, CNBC, JPMorgan, Reuters Graphics, Labor, Thomson Locations: Washington , U.S

There are reasons for the central bank to be, as policymakers have said, "careful" in approving any further rate increases. "We think real rates are higher due to very strong US growth," analysts from Citi wrote ahead of this week's Fed meeting. As of the September meeting, Fed officials said they still felt one more rate hike would be necessary. But Powell has also said growth needs to slow - and if it doesn't, it means the Fed's policy rate will need to move higher. It's a good thing that the labor market's strong," Powell said at his press conference following the end of the Sept. 19-20 policy meeting.

Persons: Jerome Powell, Brendan McDermid, Powell, Nancy Vanden Houten, Dana Peterson, Consumers, Howard Schneider, Dan Burns, Paul Simao Organizations: Federal, Economic, of New, REUTERS, Federal Reserve, Treasury, Citi, Fed, Reuters Graphics Reuters, U.S, Investors, Gross, Oxford Economics, Conference Board, Conference Board's, Thomson Locations: of New York, New York City, U.S, WASHINGTON, joblessness

NEW YORK (AP) — The U.S. infant mortality rate rose 3% last year — the largest increase in two decades, according to the Centers for Disease Control and Prevention. White and Native American infants, infant boys and babies born at 37 weeks or earlier had significant death rate increases. Because the number of babies born in the U.S. varies from year to year, researchers instead calculate rates to better compare infant mortality over time. The U.S. infant mortality rate has been worse than other high-income countries, which experts have attributed to poverty, inadequate prenatal care and other possibilities. The national rate rose to 5.6 infant deaths per 1,000 live births in 2022, up from from 5.44 per 1,000 the year before, the new report said.

Persons: “ It’s, ”, Marie Thoma, Eric Eichenwald, Eichenwald, Danielle Ely, —, ” Ely Organizations: Centers for Disease Control, University of Maryland, American Academy of Pediatrics, CDC, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Philadelphia, U.S, Georgia, Iowa , Missouri, Texas

☆ Second person to receive experimental pig heart transplant dies nearly six weeks after procedure
▼ + stars: | 2023-10-31 | by ( Nadia Kounang | ) edition.cnn.com time to read: +3 min

CNN —Lawrence Faucette, the second living person to receive a genetically modified pig heart in a transplant, has died six weeks after the experimental procedure. Griffith had performed the experimental surgery. Faucette, 58, was first admitted to UMMC on September 14 after experiencing symptoms of heart failure and underwent the experimental transplant six days later. His heart disease and pre-existing conditions made him ineligible for a traditional human heart transplant. In January 2022, the University of Maryland also performed the first such experimental surgery on 57-year-old David Bennett, who died two months following the surgery.

Persons: CNN — Lawrence Faucette, “ Mr, Faucette’s, Dr, Bartley Griffith, Griffith, UMMC, “, ” Faucette, ”, Ann Faucette, “ We’ve, ” Griffith, Doctors, Ann, “ Larry, Sanjay Gupta, David Bennett, Bennett Organizations: CNN, University of Maryland Medical Center, University of Maryland School of Medicine, CNN Health, University of Maryland Locations: UMMC

☆ Second Maryland Man to Receive an Altered Pig’s Heart Has Died
▼ + stars: | 2023-10-31 | by ( Roni Caryn Rabin | ) www.nytimes.com time to read: +1 min

A 58-year-old man with heart failure who received a new heart from a genetically modified pig died on Monday, nearly six weeks after receiving the pig organ, University of Maryland Medical Center officials announced on Tuesday. The first patient, 57-year-old David Bennett, died last year, two months after his transplant. He had developed multiple complications, and traces of a virus that infects pigs were found in his new heart. Both of the patients had terminal heart disease when they received the transplanted organs, and neither managed to recover sufficiently to leave the hospital. But while doctors said that Mr. Bennett did not show any signs of acute rejection of the new heart, which is the most significant risk in organ transplants, they said that Mr. Faucette’s transplanted heart had started to display some initial signs of rejection.

Persons: Lawrence Faucette, David Bennett, Mr, Bennett, Faucette’s Organizations: University of Maryland Medical Center Locations: Frederick, Md

WASHINGTON (AP) — The second person to receive a transplanted heart from a pig has died, nearly six weeks after the highly experimental surgery, his Maryland doctors announced Tuesday. Lawrence Faucette, 58, was dying from heart failure and ineligible for a traditional heart transplant when he received the genetically modified pig heart on Sept. 20. According to the University of Maryland School of Medicine, the heart had seemed healthy for the first month but began showing signs of rejection in recent days. The Maryland team last year performed the world’s first transplant of a heart from a genetically altered pig into another dying man. David Bennett survived two months before that heart failed, for reasons that aren’t completely clear although signs of a pig virus later were found inside the organ.

Persons: Lawrence Faucette, Faucette, Faucette’s, Ann, “, David Bennett, Faucette's, ” Dr, Bartley Griffith, — Organizations: WASHINGTON, University of Maryland School of Medicine, Maryland, Navy, Food and Drug Administration, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Maryland, Frederick , Maryland

The largest was in cases where defendants plotted violent attacks that ultimately failed or were foiled, where international defendants received an average prison sentence of 11.2 years, compared with 1.6 years for domestic defendants. For violent cases that led to injuries, domestic defendants received on average 8.6 years, versus 34.6 for international defendants. The disparity was smaller, but still significant, in violent fatal attacks with domestic cases at about 28.8 years and international cases at about 39.2 years. People charged in violent domestic cases also often faced less serious charges not often associated with crimes of terror, like illegal possession of firearms, the study found. “These domestic terrorists are being treated more like run-of-the-mill criminal defendants and receiving sentences far below those of international terrorism defendants,” he said.

Persons: Joe Biden, America ”, ”, Shirin Sinnar, Jan, START’s Michael Jensen, —, Pete Simi, “, Simi, Sinnar, ” Sinnar, George Varghese, Timothy Kelly, Proud, Enrique Tarrio, Zachary Rehl, Kelly, Rehl, Jensen, ___, Jason Dearen, Michelle R, Smith Organizations: University of Maryland, Associated Press, Boys, Stanford Law School, AP, University of Maryland's National Consortium, Center, Health and Homeland Security, U.S, Chapman University, State Department, National Guard, United Locations: America, U.S, radicalizing, York, jdearen@ap.org, Investigative@ap.org

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsOct 23 (Reuters) - Bitcoin, the world's largest cryptocurrency, hit a three-month high on Monday, rising 4.73% to $31,420 amid investor enthusiasm about the possibility of a spot bitcoin exchange-traded fund. The rise in bitcoin sent shares of cryptocurrency and blockchain-related companies such as Coinbase Global (COIN.O) and Marathon Digital Holdings (MARA.O) up 6.5% and 11.9% respectively. Bitcoin is up more than 18% from the year's low of $26,533 on Oct. 11. Bitcoin briefly soared on Oct. 16 following an erroneous news report about asset manager BlackRock's high-profile application for a spot bitcoin ETF, which would track the underlying price of the token.

Persons: Benoit Tessier, bitcoin, Bitcoin, Zach Pandl, Treasuries, BlackRock's, Matteo Greco, Fineqia, Hannah Lang, Kanjyik Ghosh, Krishna Chandra Eluri, Jonathan Oatis Organizations: La Maison du, REUTERS, Marathon Digital Holdings, Hamas, U.S . Securities, Exchange Commission, BTC, Thomson Locations: La, Paris, France, cryptocurrency, Washington, Bengaluru

☆ University early decision applications mostly benefit rich kids
▼ + stars: | 2023-10-22 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +6 min

For them, applying early decision is a risk. According to the latest data from the University of Pennsylvania, the acceptance rate for students applying early decision was 16% for the 2022-23 academic year. “Typically, we admit about half of the incoming class through the early decision admissions plan,” said a University of Pennsylvania spokesperson. That same Duke survey found that nearly half of early decision applicants identified as White. He said he considered applying early decision to Cornell University, but ultimately decided against it.

Persons: ”, “ It’s, Marcella Bombardieri, it’s, Rachel Rubin, “, Duke, Rubin, Sai Mandhan, Mandhan, It’s, he’s, ‘, Cornell … Organizations: CNN, Harvard, Ivy League, University of Pennsylvania, Center for American Progress, Duke University, Students, Georgetown University’s, Court, Yale, Notre Dame, Stanford, Yale University, Cornell University, Cornell, University of Maryland Locations: Maryland

☆ Doctor's transplanted a genetically-engineered pig heart into a human, again, and now the saved patient has reached a major milestone
▼ + stars: | 2023-10-20 | by ( Lauran Neergaard | Associated Press | ) www.businessinsider.com time to read: +3 min

The pig heart transplant patient lived to celebrate the one-month anniversary of his surgery. The first pig heart transplant patient died two months after surgery due to heart failure. The first pig heart transplant patient, David Bennett, died two months after surgery. In Friday's hospital video, Faucette's doctors said the pig heart has shown no sign of rejection. Tom Jemski/University of Maryland School of Medicine via APMany scientists hope xenotransplants one day could compensate for the huge shortage of human organ donations.

Persons: —, — It's, he's, Lawrence Faucette, Faucette, Chris Wells, David Bennett, Mark Teske, Muhammad Mohiuddin, Lawrence Faucette's, Tom Jemski Organizations: Service, University of Maryland School of Medicine, Maryland, AP, Food and Drug Administration, Associated Press Health, Science Department, Howard Hughes Medical Institute's Science, Educational Media Group Locations: WASHINGTON, Maryland

Lawrence Faucette was dying from heart failure and ineligible for a traditional heart transplant when doctors at the University of Maryland School of Medicine offered the highly experimental surgery. In the first glimpse of Faucette provided since the Sept. 20 transplant, hospital video shows physical therapist Chris Wells urging him to push through a pedaling exercise to regain his strength. The Maryland team last year performed the world’s first transplant of a heart from a genetically altered pig into another dying man. David Bennett survived just two months before that heart failed, for reasons that aren’t completely clear although signs of a pig virus later were found inside the organ. In Friday’s hospital video, Faucette’s doctors said the pig heart has shown no sign of rejection.

Persons: — It’s, he’s, Lawrence Faucette, Faucette, Chris Wells, “ That’s, ” Faucette, David Bennett, —, ”, Muhammad Mohiuddin Organizations: WASHINGTON, University of Maryland School of Medicine, Maryland, Food and Drug Administration, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Maryland

For inflation to durably return to the Fed's 2% target, it "is likely to require a period of below-trend growth and some further softening in labor market conditions," Powell said. There is evidence the labor market is cooling, Powell said, with some important measures approaching levels seen even before the pandemic. Those include new geopolitical risks to the economy from the "horrifying" attack on Israel by the Palestinian militant Hamas group, Powell said. "Persistent changes in financial conditions can have implications for the path of monetary policy," Powell said, with higher market-based interest rates, if sustained, doing the same job as Fed rate increases. "We cannot yet know how long these lower readings will persist, or where inflation will settle over coming quarters," Powell said.

Persons: Jerome Powell, Evelyn Hockstein, Powell, Dan Burns, Ann Saphir, Chizu Nomiyama, Andrea Ricci Organizations: . Federal, Federal Reserve, REUTERS, Economic, of New, Fed, Hamas, Federal, U.S, Thomson Locations: Washington , U.S, U.S, of New York, Israel

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. If finalized, the rule would require financial firms to report information about transactions that they suspect involve crypto mixers, which are anonymized software tools that allow users to conceal the source or owner of digital assets. * On Wednesday, the Biden administration issued sanctions to disrupt Hamas' funding, which included a Gaza-based crypto exchange. * The U.S. last year imposed sanctions on crypto mixers Tornado Cash and Blender. Reporting by Hannah Lang in Washington; editing by Michelle Price and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Lamarque, Biden, ”, Wally Adeyemo, Hannah Lang, Michelle Price, Deepa Babington Organizations: Department of, U.S . Treasury, REUTERS, U.S . Treasury Department’s, Hamas, U.S ., Reuters, U.S, Convertible, Thomson Locations: Washington , U.S, Israel, Gaza, Washington

Israeli police said in an Oct. 10 statement that it had frozen several crypto accounts that were used to solicit donations for Hamas. Reuters reported in May that Israel had seized around 190 crypto accounts at crypto exchange Binance since 2021, including dozens it said were owned by Palestinian firms connected to Hamas. Hamas uses a global financing network to funnel support from charities and friendly nations, including by using cryptocurrencies, Reuters reported on Monday. The lawmakers requested that the Biden administration provide estimates on the value of crypto assets that remain in Hamas-controlled wallets, how much of Hamas’ operations are funded through crypto, and any information it has on the actors facilitating the sending of crypto to and from Hamas and other militant groups. Reporting by Hannah Lang in Washington; editing by Michelle Price and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Elizabeth Warren, Julia Nikhinson, Biden, Senators Elizabeth Warren, Roger Marshall, Sean Casten, Israel, Binance, Hannah Lang, Michelle Price, Bill Berkrot Organizations: Intelligence, U.S, Capitol, REUTERS, Hamas, U.S . Treasury Department, White, Senators, Reuters, TRM Labs, Thomson Locations: Washington , U.S, cryptocurrencies, Israel, Hamas, Washington

Describing that anticipated outcome while keeping open the possibility of future rate increases will be one challenge Powell faces. Another will be discounting speculation about the prospect of rate cuts or changes to other aspects of Fed policy, such as the ongoing reduction of the central bank's balance sheet. The yield on the 10-year Treasury note is just about six-tenths of a percentage point below the Fed's policy rate; when the gap between the two shifts from negative to positive is when monetary policy gets perhaps its truest test. Recent data on balance don't fully back the Fed's view of a gently slowing economy and steadily easing inflation. "Assuming the economy keeps growing ... the Fed will get back to hiking," Blitz said.

Persons: Jerome Powell, Powell, Larry Meyer, Meyer, Krishna Guha, Powell's, Christopher Waller, Waller, Steven Blitz, Howard Schneider, Dan Burns, Paul Simao Organizations: Federal Reserve, Fed, U.S ., Economic, of New, Reuters Graphics Reuters, Evercore ISI, Hamas, U.S . House, Graphics, TS Lombard, Thomson Locations: U.S . Congress, of New York, Israel, Palestinian, Washington, U.S

☆ No military response can end the Israel-Hamas conflict, peace experts say. Even if Israel wipes out Hamas, another group will likely take its place
▼ + stars: | 2023-10-14 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +7 min

Israel appears to be preparing for a ground invasion of Gaza where it hopes to wipe out Hamas. The attacks prompted a swift and strong counter response from Israel which declared war on Hamas and vowed to lay siege to Gaza. But even the total eradication of Hamas would fail to solve the tensions between Israel and Palestinians, Telhami said. "If Israel wipes out Hamas and leaves Gaza, either Hamas resurges or a more violent option rises," he said. The near future almost certainly includes more civilian deaths and an escalation of violence in Gaza , according to experts.

Persons: Israel, —, Alon Burstein, Shibley Telhami, Anwar Sadat, Burstein, Mohammed Salem, Kenneth Gray, Al, Telhami Organizations: Service, Israel, Department of Political Science, University of California, US, Peace, Development, University of Maryland, Brookings Institution, West Bank, Rockets, Palestinian, REUTERS, University of New, FBI, Brigades, Palestinian Authority, Israel Defence Forces, Israel Defense Forces Locations: Gaza, Palestinian, Israel, Irvine, Egypt, Hamas, University of New Haven, Palestine's, Lebanon

☆ The U.S. has high maternal mortality rates — and it has gotten worse for Latinas
▼ + stars: | 2023-10-13 | by ( Bertha Coombs | ) www.cnbc.com time to read: +2 min

The program helped Robles gain health-care coverage as she and her husband seek asylum in the United States. Her comadrona helped her find a doctor who treats low-income patients and connected her with other services. "One of the things that we do here at Hispanic Council is provide birthing classes, in their own language," said Bianca Noroñas, the Comadrona program manager. Noroñas said coaching and social services have helped the mothers in the nonprofit's program avoid medical complications during childbirth. In the U.S., the rate of maternal morbidity — medical complications in childbirth — and maternal mortality is nearly twice as high as in other developed nations.

Persons: Zaza Cristina Robles, —, Robles, comadrona, Bianca Noroñas, Noroñas, We've, Marie Thoma Organizations: Hispanic Health Council, Latina, Hispanic, University of Maryland School of Public Health Locations: Peru, U.S, Hartford , Connecticut, United States

That changed in September when U.S. central bank officials themselves sensed that progress on housing inflation might have stalled. Data released on Thursday confirmed a jump in shelter prices that, for a month at least, bucked the trend. "The uptick in housing inflation this month was the key surprise. Housing inflation will need to decline sharply over the coming months for us to see inflation near 2%." In the list of risks for inflation to remain elevated, Fed officials in September pointed to "the effects of a strong housing market."

Persons: Sarah Silbiger, Olu Sonola, aren't, Jerome Powell, Kathy Bostjancic, disinflation Powell, Andrew Hunter, CoreLogic, Hunter, Howard Schneider, Paul Simao, Jonathan Oatis Organizations: REUTERS, Rights, Federal Reserve, Fitch, Fed, Nationwide, Reuters Graphics Reuters, Capital Economics, Reuters, Thomson Locations: Washington , U.S, U.S

Oct 11 (Reuters) - U.S. Federal Reserve Governor Christopher Waller on Wednesday said higher market interest rates may help the Fed slow inflation, and let the central bank "watch and see" if its own policy rate needs to rise again or not. We will see how those higher rates feed into what we do on policy in the coming months." Waller's comments added weight to similar statements this week by Fed Vice Chair Philip Jefferson and Dallas Fed President Lorie Logan. Still, Waller offered some of the most optimistic reads yet on the path of inflation. "We're finally getting very good inflation data," he said.

Persons: Christopher Waller, Waller, Paul Ryan, Philip Jefferson, Lorie Logan, We're, Howard Schneider, Andrea Ricci Organizations: . Federal, Republican, Wisconsin, Dallas Fed, Treasury, Reuters, Thomson Locations: Utah

☆ Hamas Attacks Are the Beginning of the End for Netanyahu
▼ + stars: | 2023-10-11 | by ( William A. Galston | ) www.wsj.com time to read: +1 min

William A. Galston writes the weekly Politics & Ideas column in the Wall Street Journal. He holds the Ezra K. Zilkha Chair in the Brookings Institution’s Governance Studies Program, where he serves as a senior fellow. A participant in six presidential campaigns, he served from 1993 to 1995 as Deputy Assistant to President Clinton for Domestic Policy. Mr. Galston is the author of 10 books and more than 100 articles in the fields of political theory, public policy, and American politics. A winner of the American Political Science Association’s Hubert H. Humphrey Award, he was elected a Fellow of the American Academy of Arts and Sciences in 2004.

Persons: William A, Galston, Ezra K, Saul Stern, Dean, Clinton, Association’s Hubert H, Humphrey Organizations: Street, Zilkha, Brookings Institution’s, Brookings, School of Public Policy, University of Maryland, Institute for Philosophy, Center for Information, Research, Civic, National Commission, Domestic, Liberal Pluralism, Public, Rowman & Littlefield, Liberal Democracy, Yale, American, American Academy of Arts and Sciences Locations: Brookings

According to the minutes, "several participants" felt that "the focus of monetary policy decisions and communications should shift from how high to raise the policy rate to how long to hold the policy rate at restrictive levels." For now, "all participants agreed that policy should remain restrictive for some time" until it is clear inflation "is moving down sustainably toward its objective." The release on Thursday of the consumer price index report for September could add to the impetus for the Fed to remain on hold. Waller said that if recent month-to-month inflation trends continue, it would mean "we're pretty much back to our target." Reporting by Howard Schneider; Additional reporting by Ann Saphir; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Philip Jefferson, Christopher Waller, Waller, Paul Ryan, Howard Schneider, Ann Saphir, Paul Simao Organizations: U.S, Treasury, U.S . House, Investors, Fed, Thomson Locations: U.S, Utah

In both cases the outcome would push the Fed from that "golden path" onto a far more familiar one: An economy buckling as borrowing costs rise and confidence wanes. "I don't think it is unavoidable" that joblessness will have to rise significantly for inflation to return to target, Dallas Fed President Lorie Logan said on Monday. But the most important thing is that we stay focused on restoring price stability, and I think that will require some rebalancing in the labor market." Her look at past periods of inflation and disinflation makes her think the labor market may still need a shock for the Fed to succeed. "As nice as it is to see a really strong labor market, when you are trying to get inflation down, that's not your friend."

Persons: Lorie Logan, Philip Jefferson, Austan Goolsbee, Jefferson, Christina Romer, Romer, Goolsbee, that's, Howard Schneider, Ann Saphir, Dan Burns, Paul Simao Organizations: DALLAS, Federal, National Association for Business Economics, Dallas, Chicago Fed, Treasury, University of California, White House's Council, Economic Advisers, Fed, Thomson Locations: U.S, Dallas, Israel, Palestinian, Berkeley

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