Fed to Focus on Full Employment, CEA's Boushey Says

The transcript discusses the President's focus on supporting the middle class and the role of the Federal Reserve in economic recovery. It highlights the reappointment of Jay Powell and the expectations from the new leadership of the Federal Reserve. The balance between inflation and full employment is examined, along with the impact of the global pandemic on supply chains. The potential use of the Strategic Petroleum Reserve to address gas prices is also explored.

What was a key reason for reappointing Jay Powell as Chair of the Federal Reserve?

• To focus on international trade

• To increase interest rates

• To support America's middle class

• To reduce government spending

What is one of the Federal Reserve's mandates under Jay Powell's leadership?

• Promoting foreign investments

• Focusing on price stability

• Increasing taxes

• Reducing exports

How has the Federal Reserve addressed climate change?

• By reducing interest rates

• By increasing carbon taxes

• By joining the network for greening the financial system

• By promoting fossil fuels

What challenge is associated with achieving full employment and price stability?

• Balancing inflation and employment

• Promoting technological advancements

• Reducing international trade

• Increasing government debt

What has been a focus of the President to address supply chain issues?

• Promoting local businesses

• Reducing labor costs

• Unclogging supply chains

• Increasing tariffs

What action has the President taken regarding gas prices?

• Promoted electric vehicles

• Reduced oil imports

• Increased gas taxes

• Written to the Federal Trade Commission

What is the purpose of the Strategic Petroleum Reserve?

• To stabilize oil prices during emergencies

• To increase oil exports

• To reduce oil consumption

• To promote renewable energy