Waller is back with more comments at a St Louis Fed conference.
- Labor market is cooling and getting close to average from before the pandemic; it’s ‘clearly calming down’
- Labor supply also appears to be normalizing back to pre-pandemic levels
- ‘Everything was booming’ in Q3 GDP, Fed is watching that closely
- In central banking terms, move up in 10-year yields was an ‘earthquake’
- Policymakers are mulling what drove long-term yields higher
- What people have in mind now is for prices to return to earlier levels, and that is not going to happen
This article was written by Adam Button at www.forexlive.com. Source