Comments from the Atlanta Fed leader on Bloomberg TV
- Over three-years we can be back on a robust path
- Comfortable above 2% inflation but will look more at the trajectory than the level
- Fed was closer than many appreciate to reaching its 2% goal before the pandemic
- Impacts of pandemic are making it difficult to see what's going on with inflation
- Can see 3.5% or 3.75% unemployment in the long term
- Sees long-term growth at 2%
- Will wait for evidence of overheating before taking action
- Definitely seeing signs of the economy slowing
A slowing economy isn't a surprise. Q3 growth will be an all-time record and it's a guarantee that it will slow from that. How quickly it slows and what the terminal rate of growth is a bigger question. The Fed is looking for 4.0% growth in 2021 after a 3.7% contraction this year.
