- Fed's governor Waller: U.S. economy is ready to rip
Market news
16 April 2021
Fed's governor Waller: U.S. economy is ready to rip
- Sees 6.5% GDP growth this year
- Sees 2.5% inflation this year
- Unemployment will drop further
- All the fundamentals are in place for good, strong fundamental growth
- We still need to make up for lost ground, we still have a long way to go
- We're still down 7-8 million jobs from a year ago
- There's no reason to start pulling the plug on stimulus
- Temporary surge in inflation will not last, bottlenecks will go away
- We're happy to let inflation rise above 2%, so long as inflation is anchored
- I don't think anyone would be comfortable if inflation got to 3% or above and stayed there a while
- Dot plot is problem right now; we shouldn't be doing calendar-based forecasts
- Markets are getting ahead of themselves in terms of expecting rate hikes
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