Surveillance: US Inflation with Dudley
Bloomberg Surveillance
00:00
The Fed's Prognosis on the Labor Market and Wage Trend
It's hard to see inflation going all the way back to 2% with the labor market this tight and wages this high. The Fed reserve, if you look at their last summer economic projections, expects that they're going to need to push the unemployment rate up above 4.5%. It would be great if we could operate at a 3.4% unemployment rate with 2% inflation. But historically, that's not happening in the past.
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