Yellen Says Federal Reserve Monetary Policy Can Solve Unemployment Problem

Federal Reserve Chair Janet discussed the economy and unemployment at the Economic Club of New York on Wednesday. Incredibly, she said that the Fed’s monetary policy will solve the unemployment problem in the US. If that was the case wouldn’t every American who wants a job have a job after 5 years of the same policy?

“I think for our part, you asked what role can the federal reserve play and it is as I emphasized to continue to use monetary policy and to adjust it in light of changing economic circumstances that we have over all these years during the recovery to foster healing of the labor market. A return to the so called employment. And I think, that’s the best contribution that we can make. I do think that we are seeing very meaningful progress. Although clearly, we’re not, the goal has not been achieved at this point.”

Well, she’s correct that the goal has not been achieved. Good grief.
Via Grabien