Jobs recovery disappointingly slow Labor market has behaved in perplexing ways Fed to adjust policy to foster job market healing Labor market goal clearly has not been met, though meaningful progress More training, education needed to help labor market (suggest nothing monetary policy can do to solve problem) Our pledge on inflation is two-sided (won't let it rise too high or fall too-low) Remains committed to 2% inflation goal Greater risk of inflation undershooting goal (full story)