Powell Says U.S. Labor Market Is 'Unsustainably Hot'

The transcript discusses the economic conditions before the pandemic, highlighting low inflation and unemployment. It then covers the pandemic's impact, the rapid recovery, and the subsequent inflation. Current global challenges like war and COVID-19 are addressed, along with speculations on the future economy. The labor market is analyzed, noting its current unsustainable heat and the need for balance between supply and demand.

What was the state of the global economy before the pandemic?

• Low inflation and high unemployment

• High inflation and high unemployment

• Low inflation and low unemployment

• High inflation and low unemployment

What was notable about the economic recovery in the United States after the pandemic?

• It did not happen

• It was slower than expected

• It was the same as expected

• It was faster than expected

What ongoing issue is highlighted in the post-recovery period?

• Rising inflation

• Decreasing inflation

• Stable economic conditions

• The end of COVID-19

What is the current state of the labor market in the United States?

• It is too cold

• It is balanced

• It is too hot

• It is declining

What is the goal for the labor market according to the speaker?

• To decrease supply

• To maintain the current state

• To balance supply and demand

• To increase demand