Diane C. Swonk (born April 8, 1962)[1] is an American economic advisor and chief economist at KPMG US.[2] (wikipedia)
Even more than the early 1990s, this is a jobless recovery. Productivity growth is playing twice the role it played in the early 1990s in driving economic gains, which means less payrolls growth.
There's a difference between good growth and bad growth at this stage of the cycle and this is clearly not the kind of inflationary growth that the Fed gets overly concerned about,
In the aftermath of Katrina, the effect on the labor market from the fallout has been limited.
My own view is that full employment is closer to 4 to 4.5 percent -- probably closer to the 4.5 percent range.
We're more productive than we were in the 90s and frankly we didn't start hitting wage pressures in the 90s until about a 4-3/4 percent unemployment rate.
He has faced many different kinds of economic environments. He has thrown away any kind of rule of thumb.
He'd like to bring in inflation targeting. (But) he must build consensus to do so and he doesn't have consensus now. I think he's going to make a smooth transition, but it's going to be an evolution in policy change.
very bad indicator on whether or not people feel secure about their jobs.
It's my guess the Fed will probably move to the sidelines until at least November,
He's certainly opened the door to another rate cut.
