Powell Says It's Too Early for Asset-Purchase Taper Talk

The transcript discusses the timing of conversations about tapering asset purchases, emphasizing that the public will be informed well in advance. It highlights the importance of monitoring economic progress and mentions that economic activity and hiring have recently picked up after a slowdown. The substantial further progress test was first articulated in December, and it will take time to see significant progress.

How has economic activity and hiring changed recently according to the text?

What is indicated about the time it will take to see substantial further progress?