Fed's Daniel Tarullo: Economy Gaining Traction, Job Growth 'Solid'

Job growth in the U.S. in March confirms a "solid trend" in the economy, said outgoing Federal Reserve Governor Daniel Tarullo.

"I think it does confirm what I certainly began to see last year, which is that traction in the economy really seems to have taken hold, with respect to job numbers, but other data as well," Tarullo told CNBC's Steve Liesman on Wednesday. 

In March, private companies in the U.S. added the most jobs in more than two years and payroll processor ADP said that 263,000 jobs were added.

Numbers on jobs, orders for durable goods, and consumer confidence reports are positive signs for the second quarter, Tarullo added.

Tarullo announced in February that he is retiring from the central bank.

President Donald Trump will have a chance to fill three vacancies on the Federal Reserve board now, since Congress previously refused to confirm nominees for two other vacancies, which had been proposed by President Barack Obama.

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