I wonder if they understand that the labor shortage – hence low unemployment – is due to demographic issues? This is not a situation we’ve had before – and trying to drive the unemployment rate higher might not be the right strategy.

Federal Reserve Bank of Atlanta President Raphael Bostic said January’s strong jobs report raises the possibility that the central bank will need to increase interest rates to a higher peak than policymakers had previously expected.

Source: After Jobs Report for January, Fed’s Bostic Says Higher Peak Rate on Table – Bloomberg