FED GOVERNOR: MARCH ‘BLOWOUT JOBS GROWTH’ NEW EVIDENCE OF ECONOMIC TRACTION

Trump Effect continues as job creation demolishes projections

Outgoing Federal Reserve Governor Daniel Tarullo told CNBC on Wednesday that robust March job growth at American companies provides more confirmation of a “solid trend” of strength in employment.

He also said the economy is gaining traction.

U.S. companies added 263,000 jobs in March, according to the latest ADP and Moody’s Analytics private payrolls report. That was well above the 185,000 expected from economists surveyed by Reuters. The government reports its March employment report on Friday.

Forward indicators also bode well for second quarter growth, said Tarullo, who appeared on “Squawk Box” on his last day at the central bank. The 64-year-old, a tough regulator on the banks, announced his plans to retire in February.

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