Philip Jefferson
- Restoring price stablity make take some time, will likely entail a period of below-trend growth
- Elevated inflation is the problem that worries me most
- Job market very tight
- Supply-demand conditions in labor market and economic seem likely to ease some
- We have seen indications that supply bottlenecks have begun to resolve
- Concerned that rising food and housing prices will affect future inflation
The bolded comments are a slight dovish tilt and a preview of what we may start to see from top Fed officials soon, especially with the ISM and JOLTS data this week. Non-farm payrolls will be big.