Fed's Kaplan Says `We Know Labor Markets Are Tightening' in the U.S.

The transcript discusses market events related to wage data, comparing current trends to those in 2007 and 2008. It highlights the complexities of market corrections and the muted transmission from wages to prices due to technological disruptions. The speaker emphasizes a gradual, patient, and deliberate approach to monetary policy to sustain economic expansion and avoid recession, while being open to adapting based on economic indicators.

What is the speaker's perspective on the current labor market in the United States?

What approach does the speaker advocate for in terms of economic accommodation?