Federal Reserve a Little Bit Behind the Curve for Sure, Lockhart Says

The transcript discusses the Federal Reserve's approach to managing inflation and interest rates, highlighting the need for rates to rise above neutral to control inflation. It examines Chair Powell's stance on rate hikes, the impact of external factors like oil prices and the war in Ukraine, and the challenge of balancing employment with inflation control. The discussion also covers market reactions, the role of the Fed's balance sheet, and the link between employment and inflation.

What is the significance of the ratio of job openings to unemployed individuals mentioned in the discussion?

How does the balance sheet runoff relate to liquidity in the market?

In what way are labor market indicators viewed in relation to inflation indicators?