Full Employment: A Broad-Based, Inclusive Goal: Opening Remarks at the Federal Reserve Bank of Boston’s 67th Economic Conference, “Rethinking Full Employment"

Abstract: Susan Collins emphasized that the two aspects of the Fed’s dual mandate are complementary. A challenge for the Fed, explored at this conference, is how to operationalize a broad concept of full employment when setting monetary policy. She emphasized the connection between the full employment goal and the Fed’s role in fostering a vibrant economy that works for everyone. A better understanding of the behavior of labor force participation is important if the Fed is to meet both its full-employment and price-stability goals. It is essential to examine factors that could limit people from participating in the economy, and to support research and collaborations that promote economic progress.

Keywords: labor market; price stability; monetary policy; maximum employment; unemployment; dual mandate;

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Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: Speech

Publication Date: 2023-11-17