Atlanta Fed President Bostic – a voting member this year — gave a speech earlier this week which contained his latest thinking on the US economy. Regarding the Fed’s “maximum employment” mandate, he offered the following analysis:
The unemployment rate has fallen to its lowest level since December of 2000. Broader measures of joblessness, like those that include people marginally attached to the labor force or those working part-time for economic reasons, have also improved to cyclical lows.