Fed's George (voter in 2022)

More comments from Feds George:

  • Demand is strong as shown in Q2 GDP
  • She expects US economy to continue to grow at a healthy clip
  • Services sector is not quite back to where it needs to be
  • It will take a combination of things for service sector to ease up
  • Demographics are going to affect labor force participation and need to adjust based on retirements
  • Firms have more pricing power than they did two years ago or five years ago
  • FOMC was intentional in adopting an average inflation targeting framework that was not mechanical
  • Over the past decade, the public hasn't worry much about inflation and that a good thing
  • Household balance sheets are healthy on the aggregate though some people are struggling
  • Some of the froth in the housing market has started to back off