marcy gordon with the a.p. given the environment that they've sketched out and the fact that interest rates are at historically low points, would it make sense? would it be an option for the government to issue more long-term debt at this point and take advantage of that? >> well, the government is very gradually increasing the duration of its debt to treasury, i mean, for some period of time. there's a bit of an issue here that what the federal reserve is doing and with the program we announced today, the maturity session program is we're taking longer term debt off the market in order to induce investors to move into other assets and into lower and longer term interest rates to the extent that the treasury sought to lengthen duration with the borrowing and to some extent offset the benefit of those policies and my understanding is they have a plan and they're sticking to that plan and therefore on the margin they have the fed's actions can be felt. >> you clearly seem to be weighing on the labor market. can y

marcy gordon with the ap.t you've sketched out and the fact that interest rates are at historically low points, would it make sense, would it be an option for the government to issue more long-term debt at this point and take advantage of that? >> well, the government is very gradually increasing the duration of its debt, the treasury, i mean, and has been doing that for some period of time. there's a bit of an issue here which is that what the federal reserve is doing with the program announced today, the maturities extension program is we are taking longer term debt off the market in order to induce investors to move in to other assets and lower longer term interest rates to the extent that the treasury actively sought to lengthen the duration of the borrowing some extent offset the benefits of those policies. so, my understanding of what the treasury's doing is a plan, sticking to that plan. and therefore on the margin the effects of the fed's actions can be felt. >> darren gross. you clearly seem to be wai

marcy gordon with the ap. given the environment you have sketched out and the fact that interest rates are at historically low point, would it make sense, would it be an option for government to issue more long-term debt at this point? >> well, the government is very gradually increasing the duration of its debt, and it has been doing that for some time. there is a bit of an issue here, which is the federal reserve with the program announced today, we are taking longer term debt of the market in order to induce investors to move into other assets and lower interest rates, to the extent that the treasury actively saw to link then be duration of borrowing, to some extent, it's all set in the policies. my understanding is the treasury has a plan. they are sticking to that plan. therefore, on the margin, the effects of the fed's actions will be felt. >> you clearly seemed to be waiting on the labor market. can you be more specific? what exactly are you looking for? the rate of job growth? also, the unemployment ra

marcy gordon with the ap. given the environment that you have sketched out and the fact that interest rates are at historically low points, would it make sense, would it be an option for the government to issue more long-term debt at this point, and take advantage of that. >> it is a bit of an issue which is they announce that we are taking longer-term debt off the market. in order to induce investors to move into other assets and lower, longer-term interest rates, to the extent that the treasury actively sought to lengthen the duration of its growing, to some extent offset the benefits of those policies. so my understanding of what the treasury is doing is that they have a plan. the fed's actions can be felt. >> you clearly seem to be waiting on the labor market. can you be specific? what exactly are you looking for? is there a rate of job growth that you need to look to see, and also the unemployment rate comes down. is that enough for you can also look at your participation and the whole thing just stalled.