Comments from the Richmond Fed President
- There will be price pressure in the spring, given pent-up demand and excess savings
- We will be watching to see what service-sector jobs come back and if they don't, if those people can be redeployed
- I watch carefully survey based and market-based inflation expectations but those are still short of where they should be
- At the longer end of the curve, it depends a lot of the driver. If they driver is elevated
- If the driver of higher rates is "as it seems to be" vaccine and economic optimism then "it's a natural reaction"
