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US Jobs Growth Slows Less Than Expected; Bitcoin Slips From $20K

“The labor market demand is still outpacing supply,” Cleveland Fed Chair Loretta Mester said in an interview with CNBC last week. “We’ve got to moderate both the labor market and product markets if we’re going to get inflation back down. At some point, once we get real rates up and we see more of that moderation in demand, […] then there’s some tradeoffs and then you need to be concerned, have you gone too far or is this a good place to stop? We’re not at that point yet.”