Powell Says Fed 'Some Way Away' From Progress on Jobs

The video discusses the concept of maximum employment, highlighting that unlike price stability, it cannot be targeted with a single number. Instead, a broad range of labor market data is monitored, including unemployment rates, participation, and wages. The speaker emphasizes the need for substantial progress towards employment goals and notes that current job numbers indicate more progress is needed. The approach involves providing advance warnings and clarity as progress is made.

How does the speaker plan to communicate progress towards maximum employment?

What indicators would suggest that substantial further progress has been made in the labor market?