Lockhart: Fed Committee Is 'Very Steady,' Won't Rush Into Action

The transcript discusses the Federal Reserve's focus on employment and tapering, with Jay Powell emphasizing the importance of job market improvements despite the risks posed by the Delta variant. Market expectations and inflation concerns are analyzed, with Powell suggesting that inflation is transitory. The impact of the Delta variant on economic recovery is considered, and the timeline for tapering is discussed, with a cautious approach suggested by the Fed.

What is the significance of the monthly jobs report according to the discussion?

What does the speaker suggest about the committee's patience regarding economic recovery?

What does the speaker mean by 'transitory' in the context of inflation?

How does the speaker characterize the current economic outlook?