NY Fed’s Dudley: Unclear if bad jobs report means economy slowing

Published Mon, Apr 6 20158:24 AM EDTUpdated Mon, Apr 6 20153:25 PM EDT

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Fed's Dudley: Dollar, oil present downside GDP risk

Whether or not March's jobs report points to a substantial slowdown of the U.S. economy is still unclear, William Dudley, president of the New York Federal Reserve, said Monday.

Dudley made his remarks after the U.S. economy added 126,000 jobs last month, well-below economists' expectations of about 250,000.

Nevertheless, Dudley also said the U.S. economy faces some downside growth risk from the rising U.S. dollar and declining oil prices.

The strong dollar has led to a "significant shock" to the economy, while the drop in oil prices could lead to a further drop in energy investment.