Zentner on Full Employment: We’re Not There Right Now

The transcript discusses the December meeting's insights, focusing on fiscal policy assumptions and economic forecasts. It highlights the job market's slowing trend and debates full employment, considering labor market shifts. The impact of fiscal stimulus on economic projections is analyzed, with uncertainty around tax reform. The concept of a high pressure economy is explored, examining the Fed's reaction and market expectations.

What are the potential risks associated with a faster pace of rate hikes as discussed in the meeting?

What does the term 'full employment' refer to, and how is it measured according to the discussion?

How did the markets react to Janet Yellen's speech regarding running the economy hot?