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- Kansas City Fed president George: It's too early to discuss pulling back on accommodation given elevated unemployment and below-target inflation
Kansas City Fed president George: It's too early to discuss pulling back on accommodation given elevated unemployment and below-target inflation
- Monetary policy is set to remain highly accommodative for some time
- Fed is positioned to patient as it follows outlook for the virus and the economy
- It is too early to discuss pulling back on accommodation given elevated unemployment, below-target inflation, and uncertainties surrounding the outlook
- Recent rise in long-term rates does not warrant a monetary policy response
- Much of the increase in yields reflects growing optimism in strength of the recovery
- Additional monetary stimulus could exacerbate the unevenness that has been the defining characteristic of the pandemic downturn
- Unemployment rate of 6.3% likely underestimates slack in labor market
- The stage is set for strong recovery once widespread vaccination is achieved
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