Morning Meeting: Janet Yellen's View of U.S. Labor

The transcript discusses Janet Yellen's upcoming speech on the labor market following a recent Fed rate hike. It covers Yellen's likely reiteration of themes from her press conference, her cautious policy outlook, and the potential impact of fiscal stimulus on inflation. The discussion includes insights from Mark Cabana and other economists on the Fed's approach to economic projections and the balance of risks in the labor market.

In what ways does Chair Yellen's perspective differ from the median view of the committee regarding interest rate hikes?

What is Chair Yellen's stance on fiscal stimulus and its impact on the economic outlook?