These factors may change over time and may not be directly measurable.” Chair Yellen gave an excellent speech at the Jackson Hole conference just a couple of weeks ago that highlighted some of the structural and nonmonetary factors affecting the labor market. Economists don’t fully understand how these factors may be influencing our efforts to assess the meaning and measurement of full employment.
This has been complemented with a process of prompt corrective action mechanism. Sixth, in tandem with the improvements in prudential practices, institutional arrangement to improve supervision and to ensure integrity of payment and settlement systems has been put in place.