On the recordJune 2, 2009
The historical experience is that the labor market tends to lag the business cycle.
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congress.govThe historical experience is that the labor market tends to lag the business cycle.
Bernanke explains that unemployment often remains high even as the economy recovers.
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The economy needed help from Congress, if not from additional spending on roads and bridges, for example, then at least in areas such as retraining unemployed workers.
Congress did not intend for the Federal regulators to discard the State risk-based capital system in favor of a banking capital regime.
monetary policy is not a panacea, so there is still plenty of room for Congress to address some of these problems