Invest in laborsaving is it not possible that improved wages themselves can help lead to improved product activity, which can create a virtual cycle with wage growth officer time yes, thats exactly what we hope is happening right now. So youre committing to keep your foot off the brake . When i was getting ready for this hearing, i went back and read something that you said in your very first year on the fomc committee. You noted you havent seen anything in the wage data yet to support that it struck me as interesting. It got me to thinking about my frustration, and how its been 2 1 2 years since he hit the supposed definition, yet it keeps dropping and the definition of full employment keeps chasing it it made me wonder, as it relates to what you said earlier, why dont we just use woo wage data to help define it. For a lodge time there was slack in the labor market. Weve reached the point where the risks are really twosided now. If we do get behind and the economy does overheat. If th
Seen in my district from tax cut and jobs act in colorado the bank of colorado, which has a significant perez innocence the western slope of colorado, the four Corners Region i represent, wrote me they anticipate the passage of the reform is going to be having a president obamaive effect positive effect on the growth of their businesses and local economy. The bank of colorado added a bonus at the end of the year for all 641 of their associates in colorado and new mexico. Theyre going to be b receiving 1,000 in terms of a bonus and part Time Associates will receive 250 to 500. Mr. Chairman, in my part of the country, thats real money its not a crumb its how we pay a mortgage pay for the electric bill. Provide literally for our children to be able to boost those opportunities for those employees, its actually helping main street right now. The bank of colorados actions i think provide an example for us in terms of new possibilities exist in the current economy and also looking forward i