Conclusion In closing, with the economy operating as close as it has in a decade to the Federal Reserve’s dual-mandate objectives of price stability and maximum employment, I believe monetary policy at this stage of the economic expansion should be aimed at sustaining growth and maximum employment at levels consistent with keeping inflation at or close to the 2 percent objective.
It covers, among others, helping products and services become more competitive in local and/or international markets; providing guidance in identifying critical processes and areas for improvement; offering technical advice on infusing innovation into enterprises; and facilitating the development of business competencies. The end goal is for microenterprises to eventually transition into small and even medium enterprises. This mentoring program was piloted last year.