Fed's Waller: US inflation can drop without much harm to job market

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U.S. Federal Reserve Governor Christopher Waller on Friday said recent data is consistent with the notion that the U.S. central bank may be able to drive down inflation without serious harm to the labor market.

If people really have begun to believe that prices are going to just keep on rising, then defeating high inflation could require dramatic actions by the Fed to puncture those expectations, Waller said in remarks prepared for an academic conference at the San Francisco Fed.

But if what's driving higher prices is a sudden rise in the frequency at which businesses reset their prices -- a theory for which Waller said there is some evidence -- then "inflation can be brought down quickly with relatively little pain in terms of higher unemployment," he said. "Recent data are consistent with this story.

 

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That was true before the Fed over tightened

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Yeah but low unemployment doesn’t mean a good economy this is essentially saying it’s going to make harder for people to buy things but they can still work at like McDonald’s or a pharmacy…ridiculous and out of touch with reality.

All lies. The FED has lost control and can only talk

End the Fed

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