Fed's Kugler
- Preponderance of labor market data shows it coming into balance
- Mon pol is 'sufficiently restrictive', economic conditions moving in the right direction
- If wage growth continues to moderate, will soon be at levels consistent with price stability
- Most indicators point to a slow, steady easing of labor market
- Watching closely for signs of labor market deterioration
- I expect some cooling of economic data to continue
- Inflation too high but encouraged by renewed recent progress
Two things: The Fed is going to continue to be watching inflation closely but it's noisy. Ultimately, it could be a dip in jobs that could shift them more to the dovish camp.
