Feds Quarles discussing the Economic outlook
Fed's Quarles is speaking on his economic Outlook hosted by the Brookings institutions Hutchins center
- We are still significantly short on measures for 'substantial further progress'.
- Has not begun to quantify thresholds for 'substantial further progress'
- The Fed can be patient and allow employment to rise.
- Tapering QE will happen before raising rates.
- Don't expect inflation will be durably and worryingly above 2% threshold
- There will be some sectors with lasting effects from Covid, like city office spaces
- For the most part Covid will have transitory, not durable effect on US economy.
