Jackson Hole Latest: Hours Worked Is Key for Policy, Paper Says.

Keywords: ALLTOP; BON; BUSINESS; COS; FIN; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; REL; US; WORLD; WWTOP EN ALLTOP BON BUSINESS COS FIN GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM REL US WORLD WWTOP RH88WMT1UM0X The findings in the paper are relevant for central banks as they project labor-market dynamics into the future when assessing and implementing policy, the authors said. In his keynote speech, Federal Reserve Chair Jerome Powell warned that policy rates must rise and then stay high for some time, echoing a series of statements earlier in the day from his Fed colleagues that rates must become restrictive until prices begin to cool. Bullard Says Rates Working With Shorter Lags (9:40 a.m.) The Federal Reserve's rate hikes are working at shorter lags than in the past, said St. Louis Fed President James Bullard. [Extracted from the article]