The US central bank “should go ahead with a plan to reduce its huge pandemic stimuli”Said the president of the Fed of Sant Louis, James Bullard, in an interview with the Financial Times on Wednesday.
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“There is a lot of demand for workers and there are more job offers than unemployed workers.”
“If we can equalize workers and put the pandemic under better control, certainly it looks like we will have a very strong labor market entering next year“.
“The The big picture is that the stimulus reduction will kick off this year and end sometime in the first half of next year.“.
On the NFP numbers, Bullarde noted “when you’re in crisis, you have to be prepared for twists and turns. These numbers are going to bounce up and down.”
“The jobs are there, the workers may not want to take those jobs right now,” he said, adding that a jump in personal savings during the pandemic and the $ 1,400 stimulus checks mean that “households are full of income. “
“They can afford to be careful about the jobs they take, or they can feel like they can get an even better job by waiting or searching more diligently.”
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