Federal Reserve Chair Janet Yellen made it clear she believes the economy still requires a strong dose of stimulus five years after the recession ended because unemployment and inflation are well short of the Fed’s goals.
Stuart Hoffman, chief economist at PNC Financial Services Group Inc. in Pittsburgh, Michelle Meyer, a senior U.S. economist at Bank of America Merrill Lynch in New York, and John Silvia, chief economist at Wells Fargo Securities LLC in Charlotte, North Carolina, said today’s employment report suggests a long period of labor market weakness lies ahead.
Michelle Meyer, senior U.S. economist at Bank of America Corp., says the rapid increase in mortgage rates has "changed the equation of affordability." Meyer talks with Bloomberg's Mark Mills on Bloomberg Radio's "Bloomberg - The First Word."
Michelle Meyer, senior U.S. economist at Merrill Lynch, discusses the outlook for housing and employment in the U.S. Meyer speaks with Bloomberg's Carol Massar and Michael McKee on "Bloomberg On the Economy."