Jonathan Levin at Bloomberg that U.S. adults aren’t returning to the labor force in large numbers anymore, dimming the hope for a sharp reduction in wage pressure…
In Powell’s perfect world, Fed interest-rate policy would prompt companies to reduce the number of job openings (demand); more workers would materialize (supply); and he would be able to orchestrate a “softish landing” for the economy…That’s a remarkably tough needle to thread, and Powell’s going to need a lot of luck to carry it off.
Bloomberg