This is on purpose because we are currently in what we call an ample-reserves environment.16 In this environment, the Fed is supplying an “ample” level of reserves to the banking system, and small movements in the supply curve will not affect the equilibrium federal funds rate much.
We need to have a true partnership, a partnership based on mutual desire to progress, between the Government and the private sector to address the problem of skills deficit. Let us also agree that the most effective way in which we can address the quality of our education system is when education is once more regarded as a meaningful profession to pursue.