Comments from the Richmond Fed President:
- Like lumber, prices will come back
- The question is: What does it mean for next year
- It's counter-intuitive but companies don't like to raise prices
- What the environment looks like in 2022 matters a lot
- One thing that looks less temporary is the rise in rents
- It's possible that people's wage aspirations have increased and that could be holding workers back
- I'm a big believer of optionality in regards to tapering
- Expect big jobs gains in August and Sept
- Says he feels bad for Powell because he has to defend the dots, something they didn't even discuss at the latest meeting
Tom is doing Q&A on his iPad, evidently.
Watch it live here:
