Question. How should one thing about the slower normalization being allocated among three factors . Is the fed more worried about the outlook than the scenario i just described . Is the fed modifying its reaction function, or did Market Participants really understand the way the fed started normalization . Okay. Thats a great question. Let me try to address it. So, you started by pointing out that essentially the u. S. Economy is doing well. We are close to our maximum employment goal with a 4. 9 Unemployment Rate and the median estimates among participants of a longer run normal rate is about 8. 4 . Were close although as ive often pointed out and still continue to personally believe i think theres a little more slack in the labor market than one would surmise by looking at the Unemployment Rate alone, and here im particularly thinking about abnormally high levels of involuntary parttime employment and perhaps we have seen some decline in what i call the cyclical component of labor fo
Stuart president obama unveiling a plan to offer legal status for millions of undocumented workers. President s executive actions on immigration. That number almost matches the number of new jobs that have been created since 2009. We have john wants the four booties. So many Different Things that people are talking about today. According to migration policy institute, 5. 2 Million Immigrants will get status based on this and the dream act. Do you think it is fair to compare those numbers . The problem we have in the u. S. Has nothing to do with immigration. If we have added i do not know. It is always a win for the u. S. Economy. President obama working with congress. He made more people legal. Melissa lets ask the economists, is that true . This is a very stagnant economy. It helps to explain why. These are folks that are competing in lowend jobs. Fighting terrorism to step up. Melissa do we have those jobs right now . You bring a whole bunch more people here who need jobs. Is it help