- St.Louis Fed president Bullard: U.S. labor market is tighter than is being represented
Market news
19 May 2021
St.Louis Fed president Bullard: U.S. labor market is tighter than is being represented
- U.S. has a big economic boom going on
- I wouldn't be surprised if 2021 GDP estimates were raised from +6.5%
- I would like to see more inflation data before changing my forecast. The data is very noisy
- I think inflation will remain above 2% in 2022 but that will be consistent with framework
- Fed will tolerate inflation above 2% throughout 2022
- Fed should be nimble as pandemic draws to a close
- Labor market is tighter than is being represented
- Jobs out there when people feel it is appropriate to return
- Expectations of a million jobs per month have been hyped up, half a million is more realistic
- Trading in inflation-protected securities shows faith in the Fed's inflation outlook
- We're going to have to allow higher inflation in the boom time than we normally would have
- I will leave it up to the chair Powell to determine when to start the taper talk
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