Federal Reserve Bank of Kansas City President Esther George speech.
Headlines via Reuters
- hard to distinguish between one-off 'bottlenecks' and broad lack of capacity
- does not dismiss risk of higher inflation
- Fed should not be 'rigid' in approach to policy, or lose sight of possible changes to the economy as it reopens
- anticipates 'strong employment' in coming months
- expects labor constraints to ease with time; some supply and shipping shortages could persist past this year
As I posted earlier:
- While everyone on the FOMC is a dove at present George is at the less dovish end of the spectrum
- While George is not an FOMC voter this year, all of the members of the FOMC contribute to the discussion, even the non-voters.
- Who does have a vote this year? Check this out.
I guess its possible to read George's comments as leaning slightly away from dovish. But what she has said is very mild indeed from here and I wouldn't be making the mistake of reading the remarks as hawkish. USD is barely changed.
