According to the Wall Street Journal, after three years as second-in-command at the Federal Reserve, new Chairman Janet Yellen will now be faced with the big question: what should the central bank do about unemployment?   

Among Ms. Yellen's most critical decisions is when to start lifting interest rates. If she and her colleagues wait too long, they could fuel high inflation or financial bubbles; if they move too soon, they could damp a recovery that is just gaining steam.

"The U.S. labor market is incredibly complicated and trying to summarize it with one number is hard," says David Stockton, the former head of the Fed's research division. "They got themselves into a situation where they are using the unemployment rate but they see a considerable number of reasons why they believe it is not a sufficient statistic."

Most Popular Articles

Former Fannie Mae employee gets 6 years in prison for making $1 million on shady foreclosure sales

A former Fannie Mae employee will spend more than the next six years in prison after being found guilty of accepting more than a million dollars in bribes and kickbacks in exchange for selling Fannie Mae-owned foreclosures for less than market value.

Jan 15, 2020 By

Latest Articles

Top originators share the key to retention at engage.talent summit

Don’t miss this opportunity to hear from the industry’s top originators on how to look beyond recruiting and win in the battle of retaining top talent.

Jan 17, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please