However, the Committee can estimate the level of maximum employment and use that estimate to inform policy decisions. In our most recent projections in January, for example, FOMC participants’ estimates of the longer-run, normal rate of unemployment had a central tendency of 5.2 to 6.0 percent.
It is befitting that the Academy has been initiated by some of India’s leading economists and finance professionals, bringing in rich and diverse perspectives for students. Role of economists/researchers in shaping policy 4. In keeping with the occasion, let me say a few words about economists.