For example, bad news about the labor market, which tends to lengthen the amount of time the public expects to be required for the unemployment rate to reach the threshold, should likewise increase the length of time that the public expects policy to remain highly accommodative.
In addition, I hope that some of the conversations here today among researchers, bankers, and bank regulators will continue, leading to benefits to all in the form of more informative research, better design and implementation of regulatory policy, and enhanced community bank performance.