More from Waller: Right now a lot of recent high productivity growth is rebound from lows

More comments from FOMC Gov. Waller:

• Right now a lot of recent high productivity growth is just a rebound from lower readings earlier
• Unsustainable fiscal policy is the biggest threat to R-star
• If we continues to see reduction in labor demand, will start seeing more unemployment
• We are in sweet spot now, we have to keep it there.
• “Gradually” on rate cuts is in in the eye of the beholder
• It would be problematic to move policy rate in response to election
• Would be hard to go back to 2019 prices without doing drastic policy tightening
• Volatile data have made this a weird time for policymakers

This article was written by Greg Michalowski at www.forexlive.com.