Fed Pres. George: Significant progress in labor market; Broad-based job gains signal rates can rise.
In an interview with Bloomberg’s Michael McKee, Federal Reserve Bank of Kansas City/MO President Esther George said she sees ‘significant progress‘ in the labor market in 2014, “We have seen significant progress in the labor market over the last three years, and particularly this year,” gains have been “broad-based, and that’s a very encouraging sign.”
George told McKee that “Inflation looks to be stable,” and “there’s every reason to think we should start talking about normalization.”
The Kansas City Federal Reserve President also said that we must return the balance sheet to the smallest amount we can and noted that the very large balance sheet has “complicated the process of monetary policy.”
Source: Bloomberg Television