Is There a Real Risk That the Labor Market Will Persist?

Today the labor market is demand is very, very strong. We're still printing new payroll job numbers at a high level wages are running at elevated levels. What we think by our policy interventions, what we hope to achieve is a period of growth below trend which will cause the labor market to get back into better balance. And that will bring wages back down to levels that are more consistent with 2% inflation over time. That's what we're trying to achieve.