Fed's Bostic: It's possible risks are rising for job market - CNBC

By Michael S. Derby

Aug 1 (Reuters) - Federal Reserve Bank of Atlanta President Raphael Bostic said Friday that July jobs data could mean risks are rising for the labor sector but he's not yet ready to change his outlook for the economy until he sees more data.

Speaking on CNBC, Bostic said he does not believe the hiring data suggest it was wrong for the Fed not to cut rates this week.

That said, "the numbers today and the revisions, in an important way, suggest that maybe the economy and the labor market are weakening more broadly than certainly what we're seeing," in the Atlanta Fed district. He added, "going into this week, I thought that the risks to inflation were much greater than the risk to employment."