Labour markets need good training policies, NY Fed president says
William Dudley says monetary policy alone cannot solve labour market problems
Monetary policy alone cannot solve labour market problems in modern economies, the Federal Reserve of New York president today (August 12) told an audience in the town of Rochester, NY.
William Dudley said the modern labour market made increasing demands on employees. "It is no longer the case that people can easily find good-paying, career-oriented jobs with a high school diploma," he said. "In addition, the depreciation rate for many skills is much higher now than in the past." This meant
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