The Peterson Institute for International Economics (PIIE) held a full-day conference on "Labor Market Slack: Assessing and Addressing in Real Time," on September 24, 2014. Participants for panel 3, "How should monetary policy react to uncertain or persistent labor market slack?," included: Laurence Ball, Johns Hopkins University; William Dickens, Northeastern University; Jan Hatzius, Goldman Sachs and Company; Steve Oliner, American Enterprise Institute and UCLA; and Adam Posen, PIIE. Angel Ubide, PIIE and D.E. Shaw, chaired the session. For more information about this conference, visit: www.piie.com/events/event_detail.cfm?EventID=349