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Struggling to overcome, so, we ave indeed had disappointingly slow recovery, and our consistent expectations for a pickup in growth have been dashed over a number of years. The labor market is behaving in some perplexing ways and showing patterns that are novel. I agree with the points that you mentioned, and i mentioned some. N my own remarks parttime employment that is involuntary is remarkably high in comparison with any past recovery. The link of unemployment spells is higher than we have seen it during the postwar period. Participation, as i mentioned, has declined a lot. Part, you asked what role the Federal Reserve can play, and it is, as i have emphasized, to continue to use Monetary Policy and to adjust it in light of economic circumstances as we have over during recovery to foster healing of the labor market or return to socalled full employment, and i think thats the best contribution that we can make. I do think we are seeing very meaningful progress, although, clearly, the

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