A robust labor market, despite modest economic growth, is a plus for workers and allows the Fed to focus on lowering inflation. It shows that jobs and income can hold up to the effects of higher interest rates, helping the FOMC continue its efforts to lower inflation to our 2 percent goal by further tightening monetary policy.
* * * Good morning. It is my pleasure to welcome our Financial Sector Forum Principals, Emilio Aquino, Chairman of the Securities and Exchange Commission; Dennis Funa, Commissioner of the Insurance Commission; and Sandra Diaz, Senior Vice President of the Philippine Deposit Insurance Corporation to witness another momentous event for the Forum.