8 Twelve-month PCE inflation was only 1.6 percent in December 2019, when the unemployment rate was 3.5 percent, racial gaps in employment were at historical lows, and labor force participation had increased. 7  -5full-time jobs. 9 The gains in employment may have come sooner and been greater if the new monetary policy framework had been in place throughout the previous recovery.
The cliché that the Greek people are lazy, whereas all Germans are hard-working, is simply false … Reality is more differentiated. Cœuré: We see the risk of nationalism in European discussions as well, with the temptation to defend narrow national interests. But politicians can overcome this temptation and make progress. Take the banking union, for example.