• Says US should focus on long-term fiscal issues, be less restrictive with fiscal policy in the short term
  • Fiscal policy at odds with Fed monetary stimulus
  • Fed will keep rates low until it sees good evidence that the economy can sustain higher rates
  • Says the falling labor participation rate preceded the crisis & the trend in participation is beyond our control
  • The Fed looks at a number of labor measures
  • Says income and wealth disparities have been increasing for years
  • Says the Fed is making extraordinary efforts to increase the number of jobs in the US, Fed efforts to expand jobs helps narrow income inequality
  • Denies that Fed bond buying has helped Wall Street without aiding Main Street

Earlier comment s here