Millions Will Miss Out On Coming Economic Boom

Washington Post: “Despite the headline numbers, the economy is still in bad shape for millions of Americans. And for many workers … jobs may not come back even if the economy booms again… The bleak picture shows the darker side of the Fed’s plan to keep interest rates near zero for quite awhile.”

“Historically, the Fed raised rates and slowed the economy to keep inflation from creeping too high, even at the cost of higher unemployment. Now the Fed goes by a new playbook, one that tolerates higher inflation if that means more people can get a job. But if all of that growth leaves behind people … the Fed’s path to getting as many people back to work as possible will be even harder to forge.”