For instance, when there are modest adverse shocks to demand that lead to modest reductions in the shorter-run neutral rate, monetary policy can provide enough support to keep the economy at full employment simply by reducing the policy rate commensurate with the decline in the nominal neutral rate.
22 An evaluation of the program last year in Tulsa, New York City, and northeast Ohio found it was especially effective  21 For more information on Pocket Change, see the Federal Reserve Bank of Boston’s Working Cities Challenge webpage at https://www.bostonfed.org/workingcities/massachusetts/round1/cities/somerville.html. 22 Aligned services may include intensive screening, occupational skills training, job development and placement services, and retention and advancement services.