options to boost growth; not clear to him that all econ weakness is due to temp factors. Expects infl to dip ahead. NY region has slow recovery but some sectors are growing. Hard to say when jobs will pick up; sees job churning but it's "about evenly balanced between old and new job creation. The evidence to date is pretty clear that these new jobs, on balance, are in industries that employ workers with higher levels of 

skills and education."