Evening Must-Read: Jared Bernstein: A Few Quick Fed Points

…pushes against Fed tightening…. 2) In their just released minutes, the Fed board clearly identified with the asymmetric risk…. 3) Some recent reports suggest a tension among FOMC members as to whether they should be data driven or just basically assume that inflationary pressures lurk around the next corner…. 4) Remember, nobody knows what the “natural rate of unemployment” is…. There you have four factors pointing towards holding rates steady at zero for the near term. Which factors point the other way? There’s the tightening job market, for sure, but see #4…