Why does the monetary policy made by the Federal Reserve has proved futile?
Because there are seven million people of “partly unemployed” workers
Because people are reluctant to risk leaving their jobs because they worry that it will be hard to find another.
Because of the low rate of wage growth.
Because of the extraordinarily large share of the unemployed who have been out of work for six months or more.
Because of the proportion of working-age adults that hold or are seeking jobs stands at 63 percent, the same level as in 1978
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