"US Macro: How Quickly will the Labour Market Tighten up?"
“...this time, it’s highlighting labour market tightness. All of which, coupled with the evidence laid out above, suggests that one of the surprises of this recovery (versus prior ones) will be the speed at which the Fed feels obliged to tighten monetary policy. Of note in that respect, the Fed started QE in 2008 during the financial crisis.
It then continued with a stop/start QE program through to 2014. Indeed, it was not until the end of 2014 that it had finished its tapering and completed its QE program/expanding its balance sheet. That is also how long it took the US labour market to, once again, reach its pre GFC employment peak...”