Today, the Economic Policy Institute joined with more than 70 organizations in a letter to the Federal Reserve urging it to continue providing support to economic activity and jobs until we reach a genuine full recovery from the Great Recession. “On the eve of the Federal Reserve’s major annual conference in Jackson Hole, Wyoming, we are writing to remind you that the American economy is not working. On behalf of millions working families, we urge you to adopt all policies necessary to rapidly reach a full employment economy that expands the middle class, raises wages, and reduces poverty,” the letter said. Read the full letter.
Additional EPI research on the Federal Reserve and full employment:
How The Federal Reserve Can Help or Hurt the Economy: What’s at Stake, EPI Research and Policy Director Josh Bivens
The Fed Should Continue Its Support for a Jobs Recovery, EPI Research and Policy Director Josh Bivens
What’s at Stake If the Fed Prematurely Raises Rates, Harvard economist Lawrence Katz