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Mester: The labor market is 'strong' and at 'maximum employment'
Despite a weaker than expected jobs report for December, the labor market overall is sound and near a peak, Cleveland Fed President Loretta Mester said Friday. Speaking the same day that the government reported that nonfarm payrolls rose by just 148,000 last month — compared to expectations of 190,000, the central bank official said one month's disappointment doesn't change the larger picture. "I think it's a strong report," Mester told CNBC in a live interview from Philadelphia. "I think we're basically at maximum employment from the view of monetary policy. But that doesn't mean it triggers a necessary ... (full story)