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Powell On NAIRU Probably Well Above 3.6%

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  • POWELL: NAIRU PROBABLY WELL ABOVE 3.6% NOW, SHOULD MOVE DOWN – bbg
  • Paraphrasing: It should shift down as this highly unusual time in our economy and labour market goes on. We should see that settling down and see the natural rate declining and that itself could reduce wage and inflation pressures. Vacancies and quits are at an all-time high. Would like to see vacancies come down so that supply and demand get back to together.
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  • POWELL: NAIRU PROBABLY WELL ABOVE 3.6% NOW, SHOULD MOVE DOWN – bbg
  • Paraphrasing: It should shift down as this highly unusual time in our economy and labour market goes on. We should see that settling down and see the natural rate declining and that itself could reduce wage and inflation pressures. Vacancies and quits are at an all-time high. Would like to see vacancies come down so that supply and demand get back to together.