9 More generally, monetary policy should react to asset price bubbles by looking to the effects of such bubbles on employment and inflation, then adjusting policy as required to achieve maximum sustainable employment and price stability.
Similarly, most advanced economies are currently enjoying the highest employment rates of the past three decades.6 In addition, digital automation can spur productivity, as I will discuss shortly, and itself tends to create new employment opportunities. Furthermore, digitalisation offers the possibility of reducing search costs in the labour market and making the search and matching process more efficient.