On the economic front, the resumption of growth in the nation’s output of goods and services is encouraging. But far too many people remain unemployed, foreclosures continue at record rates, and bank credit continues to contract.
We at the Federal Reserve cannot hope to solve all these problems on our own – other policymakers and those in the private sector must do their part – but we must continue to do all that we can to ensure that our policies are helping to guide the country’s return to prosperity in an environment of price stability.