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To say the labor market is “strong” would be an understatement. The unemployment rate is now 4.2%. Only 3 of the previous 50 years saw lower unemployment rates (2000, 2018, 2019). Firms are desperately short of workers, despite fast rising wages. Service sucks almost everywhere I go.
Inflation is also above target, whether you look at a 1, 2, 3 4, or 5-year time frame.
So why is the Fed currently doing QE? What is the goal of this program?