EghtesadOnline: Even as U.S. unemployment crept lower in recent years, Federal Reserve Chair Janet Yellen stuck with a glacial pace of policy tightening that she justified with a powerful message: there were still millions of potential workers to pull in from the labor market’s sidelines.

EghtesadOnline: U.S. job growth rebounded sharply in April and the unemployment rate dropped to 4.4 percent, near a 10-year low, pointing to a tightening labor market that likely seals the case for an interest rate increase next month despite moderate wage growth.

EghtesadOnline: By the middle of next year, Federal Reserve Bank of Boston President Eric Rosengren says he expects unemployment to fall to 4.7 percent and inflation to beat the Fed's 2 percent target, leaving policymakers at risk of having to squelch the recovery with faster-than-expected rate increases.

EghtesadOnline: Unemployment is at a decade low, the American economy is growing, and inflation is nowhere in sight, yet for two leading candidates to head the Federal Reserve, the central bank needs shaking up.