Thoughts turn to monetary policy, and yesterday we saw at least some movement toward some action on that front. In addition to Charles Evans of the Chicago Fed talking unusually rationally about the crisis of high unemployment, Ben Bernanke hinted at more steps.
|By: David Dayen Thursday September 8, 2011 9:45 am|
Now that we’ve determined that the economy is destined for a decade or more of depressed growth with no hope, it’s perhaps a small comfort that one important policymaker actually views this as a huge problem which he could play a role in solving. Charles Evans of the Chicago Federal Reserve released a paper yesterday spelling out why high unemployment is a huge failure of Fed policymakers.