Answers questions in NY
- Let's see what data show before Decembe decision
- It's important that Fed keep economy on an even keel
- There are limits to what monetary policy can do
- Jobs market is more slack than what the unemployment rate suggests
- Fed probably wants to see a bit more wage inflation
- Wage inflation has to be supported by productivity gain
- Labor immobility is a disturbing trend
- Monetary policy cannot solve mobility problems.
- Lower inflation expectation decline a little concerning
