Fed's Bullard: Expect upwards revision to November NFP number; this is a tight labour market
|St Louis Fed President James Bullard said on Friday he expects an upwards revision to the November NFP number, as this is a tight labour market. The US economy will be below 4% unemployment by Q1 2022, he added.
Additional Comments:
"Sticking with forecast for two rate hikes in 2022."
"Faster taper would create optionality to do more rate hikes if inflation doesn't dissipate."
"Labor market participation is not the thing to look at when deciding if have reached max employment."
"Want to get soon to 'live meetings' on rate hike possibility."
"With rapid changes in data, fed may need to respond meeting by meeting."
"Growth will slow next year, but will still be 'super rapid' amid productivity gains, better pandemic control."
"Economy's adaptation so far to Covid-19 suggests 'we'll be able to handle' Omicron variant."
"Inflation is partly from supply shock, partly increase in demand."
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