Fed's Barkin (2027 voter) says clear sense that the job market has loosened; hard to calibrate what's going on with labour supply; inflation data has been consistently above target
Importance
Level 1
- Firms say they have very limited pricing power.
- Hopeful inflation retreating to 2%, but wants data to show this clearly.
- Monetary policy is currently well positioned for risks
- AI will be an added driver of higher productivity
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