Fed's Kaplan: Rate Hike Sooner if GDP, Jobs Reconcile

The transcript discusses the current economic situation, focusing on consumer strength, spending capacity, and the job market. It highlights the need to reconcile GDP data with job trends, suggesting that GDP is likely to strengthen. The conversation also explores why consumers are saving rather than spending, citing financial turmoil, political uncertainty, and an aging population as factors. Additionally, it examines the global job market's impact on wage growth, noting that skilled trades are experiencing some wage pressure, while other sectors are not.

How might the job market's strength influence consumer spending?

What are some reasons consumers might not be spending their income?

In what ways could political uncertainty affect consumer behavior?

What impact does the aging population have on consumer spending habits?

What factors are contributing to the consumer's capacity to spend?