30 The challenge for practitioners and the research community is to deliver on this youthful optimism through policies and opportunities that promote strong and equitable economic growth. The Federal Open Market Committee has been playing an important role by pursuing policies aimed at achieving maximum employment in the context of price stability.
Monetary policy has remained accommodative over an extended period, which has supported labor market recovery – with significant improvement in overall unemployment, increases in job openings, and recent declines in underemployment – while inflation has remained below its target.