fed-bosticv

Atlanta  Federal Reserve  president Bostic is speaking on a virtual panel and says

  • Lack of employment mobility costs the entire economy
  • Fed's goal is to try to sustain growth that extends as far as possible
  • going to take longer than I thought for supply chain issues to resolve
  • Fully appropriate we move policy closer to the neutral position, but do so in a cautious way

Meanwhile Chicago Fed president Evans is also speaking on the same panel.

  • Will probably get to neutral setting by end of the year or early next
  • I'm optimistic we can get to neutral, look around and think there is not much more to go
  • Fed is trying to be careful, you don't want to preempt the best possible labor market we can achieve

Meanwhile the US stocks are reversing earlier losses and the major indices are all trading higher:

  • Dow industrial average +165 points or 0.48% at 34661
  • S&P up 33.5 points or +0.75% at 4514.50
  • NASDAQ index up 70.4 points or +0.51% at 13959
  • Russell 2000 is still lower by -2.6 points or -0.13% at 2014.07