Summary of What The Federal Reserve Got Wrong About the Labor Market

00:00:00 - 00:05:00

The video discusses Jerome Powell's recent comments that the labor market is still too hot, despite pockets of cooling. The Fed is risking an overcorrection if they push too hard on the labor market, which could lead to people losing their jobs.

• 00:00:00 Jerome Powell gave a speech on the labor market in which he highlighted that goods inflation is slowing down, labor cost is a big worry, and the Fed is trying to reduce demand for workers in order to slow down inflation. Employee America has a report debunking this, saying that there are not shortages of workers and that bringing older workers back into the workforce is not the solution. The labor market is already slowing down, and everything is interconnected.
• 00:05:00 The video discusses Jerome Powell's recent comments that the labor market is still too hot, despite pockets of cooling. The Fed is risking an overcorrection if they push too hard on the labor market, which could lead to people losing their jobs.