The Philly Fed president is the latest central banker to suggest that weakness in the labor market is only temporary.
There's more at play in the recent housing setback than just this winter's frozenomics, Ara Hovnanian tells CNBC.
NY Fed President William Dudley outlined some bright spots in the US recovery from recession, but he stressed that the labor market is still hobbled.
Traders saw the surprise gain in February jobs as a sign of a stronger economy, and a signal that interest rates could continue to move higher.
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