- Jobs market cooling a bit but still extremely strong
- Goods inflation has been tough to bring down
- Highlights improvements in US productivity as disinflationary
- Fed has to be patient, monetary policy has lags
- Question should be: How long are we going to stay at these levels, not about when the next hike will be
- Holding rates at these levels is increasing restriction
- We have been getting promising numbers on inflation
Between Goolsbee and Bostic there isn't much angst about the higher wage number today but that's not a big surprise given their dovish leanings.
