The G-20 Working Group on Enhancing Sound Regulation and Strengthening Transparency recommended that the accounting standards setters and prudential supervisors should work together to identify solutions that are consistent with the complementary objectives of promoting the stability of the financial sector and improving the transparency of results in the financial reports. Accordingly, the IASB has initiated appropriate modifications to the relevant accounting standards.
While the strong job market has brought some of these workers back into the workforce, it seems that many are still waiting or may not return, meaning that labor shortages will likely persist in many sectors of the economy. I’ve laid out many of the challenges, so now let me talk about what the Federal Reserve is doing to get inflation under control.