This will make credit more accessible to a broader set of users and ensure a more efficient mobilization of resources. In summary, the BSP is prepared to take all necessary actions to address the threat of high inflation and promote price stability. We also continue to be mindful of the impact of any policy action on the economy’s growth momentum.
Still, 18 months into recovery, there are more than 7 million fewer jobs in the economy than there were just prior to the recession, and the unemployment rate remains stubbornly close to its peak. American families have not experienced such a prolonged and severe period of unemployment since the early 1980s.