Q&A continues: - Q: Were you worried about.....>

FED: Q&A continues: 

- Q: Were you worried about structural changes in job markets/ potential loss of

skills over time. Also, re money from Treasury, are you willing to use that to

backstop a program that is having more losses, what is your tolerance for loss?

A: RE labour market,longer and deeper downturns have left a mark on skills

eroding etc, we are trying to prevent longer run damage. We do have tools to

ameliorate that.

On the $454bln in Treasury funds, it's a couple of things. First, Treasury has

authority and stands in front of our losses. We are clearly moving into areas

where there is more risk than there has been in the past, that is OK, what we

are supposed to do. But this is really a question for Treasury.