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The context was Yellen's dismissal of such a target.
Yellen dismissed the idea of such a target by saying:
Today’s release of state employment and unemployment data from the Bureau of Labor Statistics showed that over the summer months, most states remained largely on the same trajectory they have been on for the past year, if not the past several years.
The Federal Reserve may not have raised its benchmark interest rate on Thursday, but advocates of full employment still worry it could do so before the economy is ready.
WASHINGTON — The Federal Reserve announced Thursday that it would keep interest rates near zero as officials assessed the effects of tighter financial conditions and slower global growth on the domestic economy.
Democrats are looking to protect low-wage workers who are misclassified as independent contractors so their companies don’t have to pay them as much.
The issue of misclassified workers — who are often denied minimum wage, overtime pay and other benefits offered to full-time employees — is part of a larger debate over income inequality.
WASHINGTON – Today Congresswoman Frederica S. Wilson (FL-24), Ranking Member on the Subcommittee on Workforce Protections on the Committee on Education and the Workforce, introduced the Payroll Fraud Prevention Act of 2015, which amends the Fair Labor Standards Act to require that employers accurately classify their workers and provide employees with notice of that classification.
WASHINGTON—Today, on the morning of Earth Day, Congresswoman Marcy Kaptur (D-OH) introduced the 21st Century Civilian Conservation Corps (CCC) Act, a bill that would combat unemployment and preserve the environment by putting unemployed and underemployed citizens to work on critical environmental projects.
With questions of race and inequality dominating the national dialogue and the Federal Reserve’s debate over interest rates heating up, a new report argues that the Fed has an opportunity and responsibility to close race and gender gaps in the labor market by pursuing full employment.