Fed's Tarullo on U.S. Labor Market, Wage Growth

The video discusses the current state of the labor market, questioning whether full employment has been reached and its implications on wage growth. It explores the Federal Reserve's approach to monetary policy, emphasizing gradual increases in the federal funds rate. The discussion also touches on the role of central banks in the context of fiscal policy, highlighting the challenges they face in making decisions amidst varying economic conditions.

What factors should be considered when assessing the current state of the labor market?

How does the concept of full employment relate to wage growth?

What are the implications of tightness in the labor market on monetary policy?

In what ways can fiscal policy influence the decisions made by central banks?

What challenges do central banks face in making monetary policy decisions?