Feds Bullard adds to his hawkish sentiment

• unemployment rate will be be below 4% by Q1 2022
• expects upward revisions to November nonfarm payrolls. This is a very tight labor market
• sticking with forecast for two rate hikes in 2022
• faster taper would create option out he to do more rate hikes if inflation doesn’t dissipate
• labor market participation not the thing to look at one deciding if have reached maximum employment
• want to get soon to live meetings on rate hike possibility
• with rapid changes in data, Fed may need to respond meeting by meeting
• growth will slow it next year, but will still be super rapid amid productivity gains, better pandemic control
• economy’s adaption so far to Covid 19 suggests we will be able to handle omicron variant
• inflation is partly from supply shot, partly increase in demand