The job market has improved only slowly. … This gain was barely sufficient to accommodate the inflow of recent graduates and other new entrants into the labor force and, therefore, not enough to significantly erode the wide margin of slack that remains in our labor market.Federal Reserve Chair Ben Bernanke • Explaining, in front of the House Budget Committee, the issues he and others are having with the slow pace of the economic recovery. While things are recovering, job growth is way too slow for his comfort. In other news, Bernanke says that inflation is likely to stay low for the foreseeable future, and that the government needs to get the budget situation dealt with. “Creditors would never be willing to lend to a government with debt, relative to national income, that is rising without limit,” he says, suggesting that we could face an actual fiscal crisis if we don’t take heed. Great. source (via • follow)
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