Fed's Powell Says Reaching 'Substantial Progress' a Ways Off

Fed's Powell Says Reaching 'Substantial Progress' a Ways Off

Assessment

Interactive Video

Business, Life Skills

University

Hard

Created by

Quizizz Content

FREE Resource

The video discusses the Federal Reserve's policy goals of maximum employment and price stability, reviewing the economic situation in 2021. It highlights strong economic growth due to vaccinations and fiscal policies, but notes supply constraints in industries like motor vehicles. The labor market is improving, with high job openings, but unemployment remains elevated. Inflation has risen, influenced by base effects and supply bottlenecks, but is expected to moderate. The FOMC aims for inflation expectations anchored at 2%. Monetary policy remains supportive, with low federal funds rates and asset purchases, to aid economic recovery.

Read more

7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the two main policy goals given to Congress?

Maximum employment and price stability

Supply constraints and labor market improvement

Inflation control and unemployment reduction

Economic growth and fiscal policy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What has been a significant factor in restraining activity in some industries?

Strong housing demand

High unemployment rates

Supply constraints

Increased household spending

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which group experienced the largest decline in employment due to the pandemic?

Workers with higher wages

Asian Americans

African Americans and Hispanics

Middle-income workers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is temporarily boosting inflation according to the transcript?

Base effects from last year's price changes

Strong fiscal support

Increased labor demand

High unemployment rates

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Federal Reserve's longer-term inflation goal?

1%

2%

4%

3%

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What action did the FOMC take regarding the federal funds rate at the June meeting?

Eliminated the rate

Kept the rate near 0

Decreased the rate

Increased the rate

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Federal Reserve's commitment regarding asset purchases?

To maintain them until substantial progress is made

To stop them by the end of the year

To decrease them immediately

To increase them indefinitely