# Profoundd archive — Epstein Files
# Bates number: EFTA01459052
# Title:        Significant progress toward the Fed's full employment objective
# Dataset:      10
# Pages:        1
# Tags:         epstein, doj, dataset-10
# Source PDF:   https://profoundd.com/epstein-docs/EFTA01459052/download
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=== SUMMARY ===
Significant progress toward the Fed's full employment objective and robust momentum justify a Fed funds rate well above zero US economy is near full employment, confidence is high and leading indicators are supportive, even if some measures of slack remain high • Leading Indicators 7-8 8. Firms unable to fill job openings near 15-year high — labour market is tight for small businesses 7 Initial claims near 40+ year lows; signal further progress on unemployment is likely forthcoming 1 Payroll emp


=== EXTRACTED TEXT ===
Significant progress toward the Fed's full employment objective 
and robust momentum justify a Fed funds rate well above zero 
US economy is near full employment, confidence is high and leading indicators are supportive, even if some measures of slack remain high 
• Leading Indicators 
7-8 8. Firms unable to fill job openings 
near 15-year high — labour market is 
tight for small businesses 
7 Initial claims near 40+ year 
lows; signal further progress on 
unemployment is likely 
forthcoming 1 Payroll employment growth 
has averaged 240k per month 
over past 18 months, near the 
fastest pace since 2000 
6 Work part time for economic 
reasons remains elevated as 
many would like a full-time job 
but have settled for part-time 
work — slack remains 
Dec-07 (pre-crisis. seen 
as a solid reference) 
Dec-09 (worst of the 
crisis) 
Current 
Reference Points 
c ltiliSatiOn 5 Unemployment at 5.0%, has 
\5-6 fallen to post-crisis low, and within 
the range the Fed believes will 
begin to lead to higher inflation 
uhocrsaviekvalmt.dh win hfirffihrouseviery, rfnwarLis,dh coin 
*IintrxeVew Special - ‘` Lierembet 20lb openings near record 
high levels, suggesting 
employers are looking to 
expand employment Employer Behaviour 
1-2 
3. Hiring plans over the next 3 
months for small businesses are 
near pre-crisis levels —
employment growth should 
remain robust 
4. Quits: leading indicator for 
wage growth — more people 
quitting means they can find 
higher paying jobs elsewhere Confidence 
3-4 
Ouhsord movement if the wafer than denotes improvement Source. Hover Ana/tics, BLS, National 
Federation of Independent Businesses. Department of Latour. Deutsche Bank Research 17 
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) 
CONFIDENTIAL SDNY_GM_00265448 DB-SDNY-0 119264 
EFTA01459052