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Spatial co-ordinations are initially random, and will automatically re-arrange to minimize complexity based on distance between relationships. Mouse down and drag to pan. Right click on the strategic diagram toggles between motion and stationary. Hover over abstract node (orange) to view abstractions. Hover over leaf node to view corresponding narrative. Left click on the leaf node expands the narrative to view full text.

Narrative Analysis - Report

Key Focus

Powell suggested this week that it would take more than a small jump in unemployment for the Fed to feel that the job market was struggling enough to merit lower rates.. . "It would have to be meaningful and get our attention and lead us to think that the labor market was really significantly weakening for us to want to react to it," he said, adding that an increase of a couple of tenths of a percentage point in the unemployment rate would probably not meet that standard ...

That moderation came as job gains slowed, the unemployment rate ticked up slightly and average weekly hours nudged down. The overall picture was one of a labor market that remains solid but is gradually slowing - exactly what officials at the Fed have been looking for ...

Momentum supporting factors

(market,inflation)

(inflation,labor)

Challenge supporting factors

(market,interest)

(market,evidence)

(wage,growth,market)

(wage,growth,evidence)

(wage,cooler)

(wage,growth,cooler)

(wage,growth,measure)

(wage,measure)

(wage,growth,interest)

(wage,growth,increases)

(wage,increases)

(wage,economy)

Work-in-progress supporting factors

(market,unemployment,labor)

(market,unemployment,fed)

(market,unemployment,tick)

(fed,labor,tenths)

(fed,tenths)

(market,fed,tenths)

(market,labor,tenths)

(market,tenths)

(market,unemployment,tenths)

(fed,labor,increase)

(market,fed,increase)

Time Period	Challenge	Momentum	WIP
Report	10.78	1.72	87.50

High Level Abstraction (HLA) combined

High Level Abstraction (HLA)	Report
(1) (market,unemployment,labor)	100.00
(2) (market,unemployment,fed)	96.26
(3) (market,fed,labor)	89.12
(4) (market,interest)	62.24
(5) (market,evidence)	60.54
(6) (fed,policy)	57.48
(7) (inflation,wage)	53.40
(8) (inflation,fed)	51.70
(9) (market,unemployment,tick)	46.94
(10) (fed,labor,tenths)	45.58
(11) (fed,tenths)	44.90
(12) (market,fed,tenths)	44.22
(13) (inflation,labor)	43.88
(14) (market,labor,tenths)	42.86
(15) (market,tenths)	41.50
(16) (market,unemployment,tenths)	40.48
(17) (fed,labor,increase)	40.14
(18) (market,fed,increase)	38.78
(19) (fed,unemployment)	38.44
(20) (market,labor,increase)	38.10
(21) (market,unemployment,increase)	37.07
(22) (market,unemployment,evidence)	36.39
(23) (market,fed,policy)	33.33
(24) (market,fed,interest)	31.97
(25) (market,workers)	29.25
(26) (market,wage)	28.91
(27) (market,tick)	28.57
(28) (market,powell)	27.89
(29) (market,policy)	27.55
(30) (market,inflation)	27.21
(31) (inflation,strength)	24.83
(32) (inflation,scenarios)	24.49
(33) (inflation,prompt)	24.15
(34) (inflation,policy)	23.47
(35) (fed,powell)	23.47
(36) (wage,growth,policy)	23.13
(37) (wage,policy)	22.45
(38) (wage,increases)	21.77
(39) (inflation,increases)	21.43
(40) (inflation,growth)	20.75
(41) (wage,economy)	20.07
(42) (inflation,economy)	20.07
(43) (wage,growth,market)	17.69
(44) (fed,labor,unemployment)	17.35
(45) (fed,labor,inflation)	16.67
(46) (fed,labor,strength)	15.31
(47) (wage,growth,hiring)	14.97
(48) (fed,strength)	14.29
(49) (fed,labor,prompt)	13.61
(50) (fed,prompt)	12.24
(51) (fed,wage)	11.22
(52) (fed,tick)	10.88
(53) (fed,mandates)	10.54
(54) (wage,growth,powell)	10.20
(55) (wage,growth,evidence)	9.86
(56) (wage,powell)	9.52
(57) (wage,hiring)	6.46
(58) (wage,federal_reserve)	6.12
(59) (wage,growth,federal_reserve)	5.78
(60) (wage,evidence)	5.44
(61) (wage,cooler)	4.42
(62) (wage,growth,cooler)	4.08
(63) (wage,growth,measure)	3.74
(64) (wage,measure)	3.06
(65) (wage,growth,interest)	2.72
(66) (wage,growth,inflation)	2.04
(67) (wage,growth,increases)	1.36

Supporting narratives:

Please refer to knowledge diagram for a complete set of supporting narratives.

momentum - Back to HLA

Central bankers generally embrace a strong job market: One of their two mandates from Congress is to foster maximum employment. But when inflation is rapid, like it has been since 2021, officials worry that a hot labor market could help to keep price gains elevated ...
High Level Abstractions:

(market,inflation)

momentum - Back to HLA

Central bankers generally embrace a strong job market: One of their two mandates from Congress is to foster maximum employment. But when inflation is rapid, like it has been since 2021, officials worry that a hot labor market could help to keep price gains elevated. ...
High Level Abstractions:

(inflation,labor)

challenge - Back to HLA

Wage growth and hiring slowed in April, evidence of the job market slowdown that Federal Reserve officials have been waiting on.. . Federal Reserve officials have been looking for further evidence that their interest rate increases over the past two years are weighing on the economy and job market, and Friday's employment report roundly provided that signal ...
High Level Abstractions:

(market,interest)

challenge - Back to HLA

The Fed Is Looking for a Job Market Cool-Down. It Just Got One.. . Wage growth and hiring slowed in April, evidence of the job market slowdown that Federal Reserve officials have been waiting on.. . Federal Reserve officials have been looking for further evidence that their interest rate increases over the past two years are weighing on the economy and job market, and Friday's employment report roundly provided that signal ...
High Level Abstractions:

(market,evidence)
Inferred entity relationships (1)
(evidence,market,unemployment) [inferred]

challenge - Back to HLA

Federal Reserve officials have been looking for further evidence that their interest rate increases over the past two years are weighing on the economy and job market, and Friday's employment report roundly provided that signal.. . Average hourly earnings, a measure of wage growth, climbed 3.9 percent in April from a year earlier ...
High Level Abstractions:

(wage,economy)
(wage,growth,market)
Inferred entity relationships (1)
(market,wage) [inferred]

challenge - Back to HLA

Federal Reserve officials have been looking for further evidence that their interest rate increases over the past two years are weighing on the economy and job market, and Friday's employment report roundly provided that signal. ...
High Level Abstractions:

(wage,growth,increases)
(wage,growth,evidence)
(wage,growth,interest)
(wage,increases)
Inferred entity relationships (1)
(increases,wage) [inferred]

challenge - Back to HLA

Average hourly earnings, a measure of wage growth, climbed 3.9 percent in April from a year earlier. That was both cooler than the previous reading and slightly cooler than the 4 percent economists had forecast. ...
High Level Abstractions:

(wage,cooler)
(wage,growth,cooler)

challenge - Back to HLA

Federal Reserve officials have been looking for further evidence that their interest rate increases over the past two years are weighing on the economy and job market, and Friday's employment report roundly provided that signal.. . Average hourly earnings, a measure of wage growth, climbed 3.9 percent in April from a year earlier. That was both cooler than the previous reading and slightly cooler than the 4 percent economists had forecast ...
High Level Abstractions:

(wage,growth,measure)
(wage,measure)
Inferred entity relationships (1)
(measure,wage) [inferred]

WIP - Back to HLA

Powell suggested this week that it would take more than a small jump in unemployment for the Fed to feel that the job market was struggling enough to merit lower rates.. . "It would have to be meaningful and get our attention and lead us to think that the labor market was really significantly weakening for us to want to react to it," he said, adding that an increase of a couple of tenths of a percentage point in the unemployment rate would probably not meet that standard ...
High Level Abstractions:

(market,unemployment,fed)
(market,fed,labor)
(market,unemployment,labor)
(fed,labor,unemployment)
Inferred entity relationships (9)
(labor,market,unemployment) [inferred]
(fed,labor,tenths) [inferred]
(fed,labor,market) [inferred]
(fed,labor,unemployment) [inferred]
(fed,market,tenths) [inferred]
(fed,labor,prompt) [inferred]
(fed,labor,strength) [inferred]
(labor,market,tenths) [inferred]
(fed,market,policy) [inferred]

WIP - Back to HLA

That moderation came as job gains slowed, the unemployment rate ticked up slightly and average weekly hours nudged down. The overall picture was one of a labor market that remains solid but is gradually slowing - exactly what officials at the Fed have been looking for ...
High Level Abstractions:

(market,unemployment,labor)
Inferred entity relationships (1)
(labor,market,tenths) [inferred]

WIP - Back to HLA

The overall picture was one of a labor market that remains solid but is gradually slowing - exactly what officials at the Fed have been looking for. ...
High Level Abstractions:

(market,unemployment,fed)
Inferred entity relationships (2)
(fed,market,tenths) [inferred]
(fed,market,policy) [inferred]

WIP - Back to HLA

So, too, could evidence that the job market is cooling unexpectedly.. . Friday's small tick up in unemployment was probably not enough to meet that standard. ...
High Level Abstractions:

(market,unemployment,tick)
Inferred entity relationships (1)
(market,tick) [inferred]

WIP - Back to HLA

"It would have to be meaningful and get our attention and lead us to think that the labor market was really significantly weakening for us to want to react to it," he said, adding that an increase of a couple of tenths of a percentage point in the unemployment rate would probably not meet that standard. ...
High Level Abstractions:

(fed,labor,tenths)
(fed,tenths)
(market,tenths)
(market,labor,tenths)
(fed,unemployment)
(market,fed,tenths)
(market,unemployment,tenths)
Inferred entity relationships (9)
(labor,market,unemployment) [inferred]
(fed,labor,market) [inferred]
(fed,market,unemployment) [inferred]
(market,tenths) [inferred]
(fed,labor,unemployment) [inferred]
(fed,labor,prompt) [inferred]
(fed,labor,strength) [inferred]
(market,tenths,unemployment) [inferred]
(fed,market,policy) [inferred]

WIP - Back to HLA

"It would have to be meaningful and get our attention and lead us to think that the labor market was really significantly weakening for us to want to react to it," he said, adding that an increase of a couple of tenths of a percentage point in the unemployment rate would probably not meet that standard ...
High Level Abstractions:

(market,labor,increase)
(market,unemployment,increase)
(fed,labor,increase)
(market,fed,increase)
Inferred entity relationships (6)
(labor,market,unemployment) [inferred]
(fed,increase,labor) [inferred]
(increase,market,unemployment) [inferred]
(increase,labor,market) [inferred]
(labor,market,tenths) [inferred]
(fed,increase,market) [inferred]

WIP - Back to HLA

So, too, could evidence that the job market is cooling unexpectedly.. . Friday's small tick up in unemployment was probably not enough to meet that standard ...
High Level Abstractions:

(market,unemployment,evidence)
Inferred entity relationships (1)
(evidence,market) [inferred]

WIP - Back to HLA

The overall picture was one of a labor market that remains solid but is gradually slowing - exactly what officials at the Fed have been looking for ...
High Level Abstractions:

(market,fed,labor)
Inferred entity relationships (6)
(labor,market,unemployment) [inferred]
(fed,labor,tenths) [inferred]
(fed,labor,unemployment) [inferred]
(fed,labor,prompt) [inferred]
(fed,labor,strength) [inferred]
(labor,market,tenths) [inferred]

WIP - Back to HLA

At the Fed's policy meeting this week, officials kept interest rates at 5.3 percent, the highest level in more than two decades ...
High Level Abstractions:

(fed,policy)
(market,fed,policy)
Inferred entity relationships (3)
(market,policy) [inferred]
(fed,market,tenths) [inferred]
(fed,market,unemployment) [inferred]

WIP - Back to HLA

At the Fed's policy meeting this week, officials kept interest rates at 5.3 percent, the highest level in more than two decades. ...
High Level Abstractions:

(market,fed,interest)
Inferred entity relationships (1)
(interest,market) [inferred]

WIP - Back to HLA

Given that, Fed officials have been keeping an eye on the job market as they contemplate their next steps on interest rates. At the Fed's policy meeting this week, officials kept interest rates at 5.3 percent, the highest level in more than two decades ...
High Level Abstractions:

(market,interest)
(market,policy)

WIP - Back to HLA

But if inflation begins to cool again, that would pave the way for rate cuts, Mr. Powell said. So, too, could evidence that the job market is cooling unexpectedly.. . Friday's small tick up in unemployment was probably not enough to meet that standard ...
High Level Abstractions:

(market,evidence)
(market,powell)
Inferred entity relationships (1)
(evidence,market,unemployment) [inferred]

WIP - Back to HLA

And workers who are earning slightly bigger paychecks may have the wherewithal to pay more without pulling back. ...
High Level Abstractions:

(market,workers)

WIP - Back to HLA

The Fed Is Looking for a Job Market Cool-Down. It Just Got One.. . Wage growth and hiring slowed in April, evidence of the job market slowdown that Federal Reserve officials have been waiting on. ...
High Level Abstractions:

(market,wage)
(wage,growth,evidence)
(wage,evidence)
(wage,growth,market)
Inferred entity relationships (1)
(market,wage) [inferred]

WIP - Back to HLA

Powell said. So, too, could evidence that the job market is cooling unexpectedly.. . Friday's small tick up in unemployment was probably not enough to meet that standard. ...
High Level Abstractions:

(market,tick)
Inferred entity relationships (1)
(market,tick,unemployment) [inferred]

WIP - Back to HLA

Powell emphasized repeatedly this week that the Fed did not specifically target wage growth when setting policy, but he also suggested that pay gains might need to slow further for inflation to come down sufficiently and in a lasting way - which means that Friday's numbers could be a welcome development ...
High Level Abstractions:

(fed,policy)
(wage,growth,policy)
(wage,growth,inflation)
(inflation,wage)
(inflation,growth)
(inflation,fed)
(inflation,policy)
(wage,policy)
Inferred entity relationships (5)
(inflation,wage) [inferred]
(fed,inflation,labor) [inferred]
(growth,inflation) [inferred]
(growth,inflation,wage) [inferred]
(policy,wage) [inferred]

WIP - Back to HLA

. "We don't target wages; we target price inflation," he said. When it comes to cooling the economy, he said, "part of that will probably be having wage increases move down incrementally toward levels that are more sustainable." ...
High Level Abstractions:

(inflation,wage)

WIP - Back to HLA

A combination of persistent inflation and continuing strength in the labor market could prompt the Fed to leave rates unchanged for longer, he said. ...
High Level Abstractions:

(inflation,fed)
Inferred entity relationships (1)
(fed,inflation,labor) [inferred]

WIP - Back to HLA

Powell laid out several possibilities for what could come next with rates, and the job market is a factor in some scenarios.. . A combination of persistent inflation and continuing strength in the labor market could prompt the Fed to leave rates unchanged for longer, he said. ...
High Level Abstractions:

(inflation,labor)
(inflation,strength)
(inflation,prompt)

WIP - Back to HLA

Powell laid out several possibilities for what could come next with rates, and the job market is a factor in some scenarios.. . A combination of persistent inflation and continuing strength in the labor market could prompt the Fed to leave rates unchanged for longer, he said ...
High Level Abstractions:

(inflation,scenarios)

WIP - Back to HLA

"We don't target wages; we target price inflation," he said. When it comes to cooling the economy, he said, "part of that will probably be having wage increases move down incrementally toward levels that are more sustainable.". ...
High Level Abstractions:

(inflation,increases)
(wage,increases)

WIP - Back to HLA

"We don't target wages; we target price inflation," he said. When it comes to cooling the economy, he said, "part of that will probably be having wage increases move down incrementally toward levels that are more sustainable." ...
High Level Abstractions:

(wage,economy)
(inflation,economy)

WIP - Back to HLA

Friday's small tick up in unemployment was probably not enough to meet that standard. Mr. Powell suggested this week that it would take more than a small jump in unemployment for the Fed to feel that the job market was struggling enough to merit lower rates. ...
High Level Abstractions:

(fed,unemployment)
(fed,tick)
(fed,powell)

WIP - Back to HLA

A combination of persistent inflation and continuing strength in the labor market could prompt the Fed to leave rates unchanged for longer, he said ...
High Level Abstractions:

(fed,labor,inflation)
Inferred entity relationships (2)
(inflation,labor) [inferred]
(fed,inflation) [inferred]

WIP - Back to HLA

A combination of persistent inflation and continuing strength in the labor market could prompt the Fed to leave rates unchanged for longer, he said. But if inflation begins to cool again, that would pave the way for rate cuts, Mr ...
High Level Abstractions:

(fed,prompt)
(fed,labor,strength)
(fed,labor,prompt)
(fed,strength)
Inferred entity relationships (5)
(fed,labor,tenths) [inferred]
(fed,labor,unemployment) [inferred]
(fed,labor,prompt) [inferred]
(fed,labor,market) [inferred]
(fed,labor,strength) [inferred]

WIP - Back to HLA

. Mr. Powell emphasized repeatedly this week that the Fed did not specifically target wage growth when setting policy, but he also suggested that pay gains might need to slow further for inflation to come down sufficiently and in a lasting way - which means that Friday's numbers could be a welcome development ...
High Level Abstractions:

(fed,wage)
(fed,powell)

WIP - Back to HLA

The overall picture was one of a labor market that remains solid but is gradually slowing - exactly what officials at the Fed have been looking for.. . Central bankers generally embrace a strong job market: One of their two mandates from Congress is to foster maximum employment. ...
High Level Abstractions:

(fed,mandates)

WIP - Back to HLA

Powell, the chair of the Federal Reserve, made it clear this week that central bankers are also watching what happens with hiring and pay.. . Mr. Powell emphasized repeatedly this week that the Fed did not specifically target wage growth when setting policy, but he also suggested that pay gains might need to slow further for inflation to come down sufficiently and in a lasting way - which means that Friday's numbers could be a welcome development ...
High Level Abstractions:

(wage,powell)
(wage,growth,powell)
(wage,growth,hiring)
Inferred entity relationships (2)
(hiring,wage) [inferred]
(powell,wage) [inferred]

WIP - Back to HLA

The Fed Is Looking for a Job Market Cool-Down. It Just Got One.. . Wage growth and hiring slowed in April, evidence of the job market slowdown that Federal Reserve officials have been waiting on ...
High Level Abstractions:

(wage,hiring)
(wage,growth,hiring)
Inferred entity relationships (1)
(hiring,wage) [inferred]

WIP - Back to HLA

It Just Got One.. . Wage growth and hiring slowed in April, evidence of the job market slowdown that Federal Reserve officials have been waiting on. ...
High Level Abstractions:

(wage,federal_reserve)
(wage,growth,federal_reserve)

Semantics Relevance

The Fed Is Looking for a Job Market Cool-Down. It Just Got One.