The employment picture is much worse when you factor in those who’ve dropped out of the labor force.
Forward guidance only works if the public gets the message and acts upon it—and research suggests many people simply don’t.
The US and European central banks thought they could manage their economies by bringing their secretive plans for interest-rate regulation into the light. But they didn’t account for an unreceptive public.
Many Americans still exhibit a profound lack of awareness about inflation and the policies meant to guide it, according to research.