The unemployment rate is giving Fed officials room to view the economy as undergoing a steady adjustment to the shock of the pandemic, rather than stuck in an inflationary status quo—which would force policymakers towards further rate increases—or a rush off the cliff toward recession—which would amp up political pressure on the central bank and foil its hopes for a “soft landing.”
NTD spoke with Julia Pollak, chief economist at ZipRecruiter, for her perspective.
