What I’d like to do now is go through two case studies from the past seven years, show how risk management applied to each situation and talk about changes in our processes that emerged. Then, I will turn to monetary policy and the unknowable implications of the pandemic.
And there likely is some room to go: The prime-age employment-to-population ratio remains 1 3/4 percentage points below levels prevailing prior to the financial crisis, while a relatively large share of employees who are working part time would prefer to work full time. In addition, wage growth remains relatively slow. Domestic activity continues to grow at a moderate pace.