My remarks will focus on the mortgage securitization process, how it has been affected by the financial crisis, and how it may evolve in response to this crisis.
That is probably one reason why younger workers reported feeling significantly more optimistic about the job market compared with 2013, according to a survey published just today by the Federal Reserve.1 Challenges do remain. The economy is growing more slowly than in past recoveries, and productivity growth, which is a major influence on wages, has been disappointing. 1  See Board of Governors (2016).