Fed Williams: Job market stabilizes as inflation uncertainty looms
John Williams, President of the Federal Reserve (Fed) of New York, spoke on Thursday and said that the job market has stabilized, acknowledging that he is not surprised to see near-term inflation expectations rise.
Key takeaways:
FED INDEPENDENCE DELIVERS BETTER ECONOMIC OUTCOMES
NOT TIME TO WORRY ABOUT FED INDEPENDENCE, STAFF FOCUSED ON MISSION
CONTEXT MATTERS FOR INFLATION GIVEN PERSISTENCE ABOVE TARGET
TARIFFS APPEAR TO HAVE MOSTLY WORKED THROUGH ECONOMY
JOB MARKET IS NOT DRIVING INFLATION PRESSURES, JOB MARKET IS NOT TIGHT
NOT SURPRISED TO SEE NEAR TERM INFLATION EXPECTATIONS RISE
IS SEEING PRETTY STABLE LONGER TERM INFLATION EXPECTATIONS
THERE ARE EMERGING ISSUES WITH SUPPLY CHAIN PRESSURES
WE ARE NOT SEEING SIGNS OF PROBLEMS WITH INFLATION EXPECTATIONS
IS NOT YET SEEING MAJOR SECOND ROUND IMPACT ON INFLATION
THERE'S A LOT OF UNCERTAINTY AROUND ENERGY PRICE OUTLOOK
THE JOB MARKET HAS BEEN SHOWING SIGNS OF STABILIZATION
THE JOB MARKET IS NOT 'HOT' BUT ALSO NOT SLOWING DRAMATICALLY
WEIGHS ALL MEASURES WHEN TAKING STOCK OF INFLATION
FED AMPLE RESERVE SYSTEM HAS WORKED VERY WELL
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