04/12/2021 | Press release | Distributed by Public on 04/12/2021 16:27
Excerpt: 'Policymakers [should] examine some of the problems brought to the forefront over the past year…to ensure we are rebuilding an economy that works for all Americans throughout the inevitable business cycle.'
Excerpt: 'It seems likely that the economy will grow rapidly this year … over the next couple of years, we will see the unemployment rate falling back to pre-pandemic levels, with significantly improved labor-force participation rates.'
Excerpt: 'With the revised [framework] adopted by the FOMC, monetary policymakers can be more patient and wait for more tangible signs that inflation has increased, rather than just forecasts, before starting to raise rates.'
Excerpt: 'With many schools either in a remote or hybrid learning mode, many parents have left the workforce to provide support for their children. … Reduced labor force participation represents a concerning development. While … improving of late, it is still well below the participation rate we saw before the pandemic.'