Fed's Waller
Waller is back with more comments at a St Louis Fed conference.
- Labor market is cooling and getting close to average from before the pandemic; it's 'clearly calming down'
- Labor supply also appears to be normalizing back to pre-pandemic levels
- 'Everything was booming' in Q3 GDP, Fed is watching that closely
- In central banking terms, move up in 10-year yields was an 'earthquake'
- Policymakers are mulling what drove long-term yields higher
- What people have in mind now is for prices to return to earlier levels, and that is not going to happen
