Federal Reserve Gov. Christopher Waller said Thursday he was surprised by weak hiring and high inflation readings in April, but he joined a chorus of senior central bank officials who say the the economy still needs lots of help.
“I have two messages today. The first is that, despite an unexpectedly weak jobs report, the U.S. economy is hitting the gas and continuing to make a very strong recovery from the severe COVID-19 recession,” Waller said in a virtual speech to the The Global Interdependence Center.
“Finally, the enhanced unemployment benefits passed in response to the pandemic expire in September, and research has shown repeatedly that the job-finding rate spikes as unemployment benefits run out.”
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