Powell Says More Labor Market Participation a Welcome Development

- Q: What do anticipate with older workers returning to the workforce (cites Tom Brady coming out of retirement as an example)

• A: In the last cycle, participation outperformed; it was a tight labor market so people stayed in the labor market for longer; not so much people coming back after retirement.
• More participation is welcome and our policy does not preclude that. As we get past Covid, it becomes an even more attractive labor market and we hope it will lead to more supply, and it will help relieve wage pressures that put inflation more at risk.