The Federal Open Market Committee's accommodative policy over the past 22 months has been aimed at supporting aggregate demand to lay the groundwork for a return to a sustainable rate of economic expansion. And, last week's decision to ease further was aimed at increasing the chances that the economic recovery would stay on track and not be derailed by the recent soft spot.
Private wealth creation Just as the long expansion of the 1990s brought marked reductions in unemployment, it also supported individual wealth creation. Because the creation of wealth is an important benefit of policies that encourage stable economic conditions and sustainable job creation, my colleagues and I at the Fed take an active interest in understanding the process of wealth creation.