The figure of growth of August job reports was not what everyone expected. Even though the wages have grown in the last two months the number of people that are out of work has increased. With all the job challenges it seems presidential aspirants have turned a blind eye to the issue, including the ever vocal Donald Trump.
When Federal Reserve officials went for retreat last month they reiterated that they would raise interest rates. their points however, remain the same. They have often said that the labor market nears full employment and that they need to hike interest to slow down the rate of job growth. They said that if the economy keeps on creating jobs at the rate of 200,000 for every month then we might soon face inflation.
No candidate has said anything about the Federal Reserve. If the presidential aspirants are serious about creating jobs then they should be talking about the Fed in order to strengthen the labor market. They should talk about how they plan to manage the board and making appointments to it.
The only challenge that the next president will face is that the Fed is a regulatory agency that has gone off the trail. It is therefore, important that the presidential aspirants get talking about how they plan to get the Fed on track.