St. Louis Fed President James Bullard said Friday that he expects an upward revision of the November NFP number as this is a tight labor market. The US economy will be below 4% unemployment by the first quarter of 2022, he added.
Additional comments:
“A faster cut would create the option to do more rate hikes if inflation does not dissipate.”
“Participation in the labor market is not what must be taken into account when deciding whether the maximum level of employment has been reached.”
“I want to get to the ‘live meetings’ soon on the possibility of raising rates.”
“With the rapid changes in the data, the fed may have to respond on a meeting-by-meeting basis.”
“Growth will slow down next year, but will remain ‘super fast’ amid productivity increases and better control of the pandemic.”
“The adaptation of the economy so far to Covid-19 suggests that ‘we will be able to handle’ the Omicron variant.”
“Inflation is due in part to the supply shock, in part to increased demand.”
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