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Federal Reserve Chairman Jerome Powell has called the risks emanating from “frothy” stock prices and other potential financial imbalances “manageable.” Some current and former central bankers are not so sure.
They worry that the Fed’s rock-bottom interest rates and massive bond buying might lead to asset price bubbles, and excessive risk-taking and leverage that could come back to haunt the economy.
“We’re now at a point where I’m observing excesses and imbalances in financial markets,” Dallas Federal Reserve Bank President Robert Kaplan said on April 30. “I’m very attentive to that, and that’s why I do think at the earliest opportunity I think it will be appropriate for us to start talking about adjusting those purchases.”
5/6/2021 3:08:52 PM GMT | By Eren Sengezer There is a little more tightness, a little less labor market slack than appears from labor force participation rate, Dallas Federal Reserve Bank President Robert Kaplan said on Thursday, as reported by Reuters.
Additional takeaways Working mothers account for about 1.5 million of 8 million jobs lost; some won t come back. There will be challenges getting back to pre-pandemic labor force participation rate. New Fed framework includes a commitment to keep inflation anchored. Excesses and imbalances in financial markets can threaten sustained achievement of Fed s 2 goals. Fed needs to understand climate change to do its job reaching its mandates.
Since 2008, The Federal Reserve has eased financial conditions tremendously, helping boost prices to record highs. For example, commercial and residential housing prices are much higher than at the peak of the housing bubble in 2005.
The Fed has flooded the economy with epic amounts of money …
Federal Reserve Chairman Jerome Powell has called the risks emanating from “frothy” stock prices and other potential financial imbalances “manageable.” Some current and former central bankers are not so sure.
They worry that the Fed’s rock-bottom interest rates and massive bond buying might lead to asset price bubbles, and excessive risk-taking and leverage that could come back to haunt the economy.
5/6/2021 2:25:50 PM GMT | By Eren Sengezer
Dallas Federal Reserve Bank President Robert Kaplan said on Thursday that he expects the Unemployment Rate to fall below 4% this year, as reported by Reuters.
Additional takeaways Some factors pushing up on inflation near-term will get resolved within 12 months. PCE inflation to end this year at 2.25%; will watch very carefully. Would like to begin discussions to talk about tapering sooner rather than later. Since December, when the Fed set the substantial further progress bar for taper, we have seen more vaccine rollout and more fiscal aid. Clear will meet the bar for tapering sooner than I had thought in January.