Fed Watching Jobs, but Must Wait for Wages: Rattner

The transcript discusses the US economy, focusing on job numbers and labor market trends. It highlights the muted effect of job growth on wages and the Federal Reserve's cautious approach to monetary policy. The conversation also touches on the importance of global economic conditions in shaping the Fed's decisions, emphasizing the need for wage growth before tightening policies.

What is the overall trend of initial jobless claims in the US labor market over the last several years?

What is the significance of the labor market data according to the discussion?

How has the effect on wages been described in relation to the improvement in the jobs situation?

What are the implications of low-wage job creation for the overall economic situation?

In what way has the importance of the international situation changed in the Federal Reserve's considerations?