CNBC Fast July 3, 2024
Strength of the labor market. He repeats his comment a return to 2 inflation is going to require below trend growth and softening in the labor market. But before you think its all hawkish, it is not. He goes on to cite risks of doing too little or too much with policy. He notes the stance of policy is restrictive and has helped to bring down inflation and to reduce growth. He says because the fed hiked rates so quickly there may be meaningful tightening in the pipeline. Financial conditions, he says, alluding to the high rates in the bond market have tightened significantly and could affect Mo...