2  BIS central bankers’ speeches  represent tragedy and hardship for these workers and their families, of course, but they also represent a crucial economic challenge. The longer workers are unemployed, the greater the likelihood that their skills will erode and workers will lose attachment to the labor force, permanently damaging the economy’s dynamism and potential output.
To summarize, although inflation is below target, it is expected by most observers to return over time to the Committee’s 2 percent objective. The Committee will continue to carefully monitor inflation developments. But we are still far from full employment. The case for continued support for the economy from monetary policy is strong.