Chief Economist Bluford Putnam is interviewed by Margaret Brennan. We have an optimistic jobs growth rate of 4%, so these numbers vindicate that. Speculation on the difference between more employment and no change in wage rates. Putnam talks about how the Fed is not to be expected to change their projections based on payroll data or food prices, but rather to react slowly, as they follow long term trends. Projections are better based on the household survey, which is a more accurate indicator of the creation of new small businesses.
Video Length: 5.14 minutes.