Kocherlakota Sees Downward Pressure on Rates, Inflation

The video discusses the current state of the labor market and economic data that the Federal Reserve is analyzing. It highlights improvements in the labor market, the surprising low unemployment rate, and the Fed's interest rate policy. The discussion also covers the concept of labor market slack and its implications for wages and inflation, emphasizing the need for a broader understanding of employment metrics.

What was suggested regarding the Fed funds rate in relation to the unemployment rate?

What does the text imply about the relationship between unemployment and labor market metrics?