Benchmark
Yellen's Former Aide Says a Rate Hike Would Be a Serious Error
There's labor supply out there that isn't measured by the jobless rate
What Happens If the Fed Makes a Policy Mistake?
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The U.S. is probably about two years away from achieving full employment, no matter what the jobless rate suggests and Federal Reserve officials think.
That's the view of Andrew Levin, who served as a special adviser to former Fed Chairman Ben S. Bernanke and then-Vice Chair Janet Yellen from 2010 to 2012. "We're not even close to full employment,'' he said in an interview.