An interesting take from Reuters, saying the comments from Tarullo and Brainard arguing that rate hikes should be delayed are a 'rebellion'
- Governor Lael Brainard said this month that the Phillips curve relationship was "at best, very weak at the moment"
- Daniel Tarullo said it has not been "operating effectively for 10 years now."
But, says the piece ...
With the Fed's rate-setting committee meeting on Tuesday and Wednesday, Yellen and Vice Chair Stanley Fischer may seek to show the bank should not wait for inflation to appear before hiking rates. Both Yellen and Fischer have backed the relationship between jobs and inflation.
Its an interesting article and worth a read ahead of the FOMC announcement due on Wednesday
