Bernanke describes jobless recovery
February 23, 2009 at 11:35 AM EST
[Skip to the end] Yes, and this is a massive political risk. The deficit is getting large enough to stabilize the economy at high levels of unemployment. With flat employment growth, and 2% productivity growth, real GDP grows at 2% and unemployment stays north of 8%. And the equity markets are in a very good place with costs under [...]
