We cannot yet say that the labor market has fully recovered, according to Federal Reserve Governor Lael Brainard. While the labor market is considerably stronger, that has not translated to accelerating inflation, which is a sign that there is still room for improvement. Some Fed officials have declared that the United States is at full employment, but Brainaid is more skeptical. The central banks goals are “low, stable inflation and full employment.” Two more quarter-percentage-point rate hikes are expected this year.
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