Zentner on Full Employment: We’re Not There Right Now

The transcript discusses the December meeting's insights, focusing on fiscal policy assumptions and economic forecasts. It highlights the job market's slowing trend and debates full employment, considering labor market shifts. The impact of fiscal stimulus on economic projections is analyzed, with uncertainty around tax reform. The concept of a high pressure economy is explored, examining the Fed's reaction and market expectations.

What was a notable shift in the December meeting's minutes regarding economic forecasts?

• No change in focus

• A focus on downside risks

• A focus on upside risks

• A focus on neutral risks

What trend has been observed in job creation according to the transcript?

• A stable job creation rate

• An increase in job creation

• A slowing trend in job creation

• A rapid decline in job creation

What is a concern if the unemployment rate drops too low?

• Lower inflation pressures

• Increased job opportunities

• Stable economic growth

• Higher inflation pressures

What challenge is associated with determining full employment in real-time?

• It is a fixed percentage

• It is difficult to measure

• It is irrelevant to economic policy

• It is easy to measure

What did Janet Yellen acknowledge about the full employment measure?

• It is lower than expected

• It is higher than expected

• It is not important

• It is exactly as expected

What is the uncertainty surrounding fiscal stimulus and tax reform?

• The certainty of its implementation

• The magnitude and timing of its delivery

• The immediate impact on the economy

• The lack of any reform

What was the potential economic strategy discussed in Janet Yellen's Boston speech?

• Reducing economic pressure

• Maintaining current economic pressure

• Running a high-pressure economy

• Running a low-pressure economy