Speaking in Halvern, Pennsylvania
He adds:
- Economy is displaying considerable strength
- Labor participation rate is lower than I'd like
- Does not expect participation trend to reverse
- Legislative action is required to move the needle on economic issues like labor force participation and workforce development
- Inflation is on course to meet our target sometime this year or next
- GDP continued to grow in the third quarter at an even faster pace than in Q2
- there is a persistently strong demand for labor, but a gap exists between the skills employers are seeking and candidates' job training
