Should-Read: A 25-54 employment-to-population ratio in the United States of today's 78.5% as "full employment", qualified only by an "essentially"? WTF?! Why isn't this qualified—why isn't this, instead: "today, we may have essentially returned to full employment"?
Charles Evans: Lessons Learned and Challenges Ahead: "These policies... produced results. Unemployment began to fall... https://www.chicagofed.org/publications/speeches/2017/05-25-lessons-learned-and-challenges-ahead-bank-of-japan
...more quickly than anticipated in 2013.... We were able to scale back the QE3 purchases.... Today, we have essentially returned to full employment in the U.S...
