A cautious Fed holds key interest rate steady
The Boston Globe - 09/17/2015
William Dickens, chairman of the economics department at Northeastern University, said he remains concerned about the millions of Americans who dropped out of the workforce during the recession who have not returned to jobs. These workers — and those taking part-time jobs because they can’t get full-time work — are not included in the official unemployment rate.
Memories of the financial crisis and subsequent economic free fall also remain fresh, inviting caution, analysts said. By the time the Fed had lowered the federal funds rate to near zero in December 2008, some 2 million American jobs had already vanished, the housing market had collapsed, and the government was rescuing major banks from insolvency.