Even with Friday’s stellar jobs report, it may feel like it's too soon to talk about full employment: America is still 4 million jobs short of where it was pre-pandemic. But how close we are has big implications for when the Fed — fresh off a taper announcement — might consider raising interest rates from near zero. Where it stands: The Fed said last week that full employment is a ways out. Still, a growing chorus of economists says stickier-than-expected inflation may push the central bank to readjust its recovery expectations — and eventually force its hand. Why it matters: The gloomy outlook for the labor market ... (full story)