Kevin Warsh: “But the long term can be quite far out, and we’ve got to monitor things month by month, quarter by quarter, as we get…”

There are always areas of concern in the labor market—for example, among recent graduates.

Part of the independence of the Federal Reserve is we stay in our lane.

But what we can do and will do is ensure that any change in relative prices don’t broaden out, don’t have second and third order effects on the economy.

I believe optimistically — you might think naively — at least in the United States, we’re going to come out of this stronger with a more durable economy, more capable of leading the world on economic growth.