Q: How many of these job losses will be.........>

FED: Q: How many of these job losses will be permanent?

- A: Don't have reliable estimate; so uncertain but can be a good number of

millions of people. My assumption is there will be a significant chunk, well

into the millions. Don't want to give you a number, because it's a guess.

- Q: What more can the Fed do for the country? You say you don't target certain

groups, but could you use previous unemp rate as a benchmark?

- A: We track all kinds of metrics. The best thing we can do with monetary

policy is to look at the evidence of what we saw with our eyes: the economy can

have very low unemployment without seeing inflation out of control. That's the

biggest thing we can do. Inequality is not really related to monetary policy,

theories as to why include globalization etc... We will use our tools to support

max employment.