While the Federal Reserve’s monetary policy tools can be effective in promoting stronger economic recovery and job gains, they have little effect on the types of jobs that are created, particularly over the longer term. So, while monetary policy can help, it does not address all of the challenges that low- and moderate-income workers are confronting.
Meanwhile, we are confident that we shall be able to see the fruits of our negotiations for the adoption of a minimum set of ground rules for the exchange of similar information with the remaining eight foreign supervisors 1 .