Feds Harker on CNBC
- Job market is changing and people's thinking about a job is/has changed
- Current issues involve supply not demand
- Fed has achieved inflation goals and is moving toward labor market goals
- some evidence that inflationary pressures may not be transitory
- Sees rate hikes in late 2022 early 2023
- Question is how long supply chain issues go on
- He supports tapering sooner rather than later, but the Delta variant and other variants are a caveat
- He is still supportive of moving the taper along because he doesn't think it's helping the economy right now
- His view is the Fed should finish taper before it considers raising rates
- Should look at data as it evolves and see if it is appropriate to raise rates
- We were stuck in a low growth low productivity economy. The productivity has accelerated led by increased investment which in the long-run will help the economy
