Powell Says Fed Will Provide Ample Notice Before Tapering

The transcript discusses the concept of 'substantial further progress' used during economic recovery, similar to the approach taken after the global financial crisis. It highlights the challenges in defining maximum employment due to its broad metrics, including wages and participation. The speaker emphasizes the importance of providing advance notice to markets to avoid surprises, mentioning an upcoming FOMC meeting for further discussions.

What was the approach taken during the recovery from the global financial crisis?

What challenges are associated with defining maximum employment?

How does the speaker describe the metrics related to employment?

What is the significance of providing advance notice before tapering?

What does the speaker imply about the nature of the upcoming FOMC meeting?