Comments from the Cleveland Fed President to Yahoo:
- Says she wants to see more strength in the labor market
- Childcare is a significant issue
- I don't think benefits are a main issue but it helps to put people in a position to make the decision to stay home and look after the kids or wait for the vaccine
- Supply chain issues are affecting certain products and commodities 'very much so in their pricing'
- My expectation is that we'll end the year above 2% inflation but when that unwinds, we'll see it fall again in 2022
- I'm particularly focused on inflation expectations -- I'll be looking at surveys and market based measures -- to see them rising and at what pace they're rising above 2%
We're going to hear from six more FOMC members today and I expect to hear a variation on the exact same theme from all of them.
