With regard to drawing any conclusions, I have indicated in other fora that there needs to be a careful and balanced assessment made of the lessons to be learned from recent events.
Under less favorable conditions they would have remained out of the labor force, or among the long-term unemployed. Moreover, the current more-than-six-year expansion has enabled us to accelerate the modernization of our productive facilities. It has long been the goal of monetary policy to foster the maximum sustainable growth in the American economy.