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Daily Archives: February 3, 2011

The Economic Outlook and Macroeconomic Policy

The Economic Outlook and Macroeconomic Policy – Chairman Ben S. Bernanke At the National Press Club, Washington, D.C., February 3, 2011

  • “While indicators of spending and production have, on balance, been encouraging, the job market has improved only slowly. Following the loss of about 8-1/2 million jobs in 2008 and 2009, private-sector employment showed gains in 2010. However, these gains were barely sufficient to accommodate the inflow of recent graduates and other new entrants to the labor force and, therefore, not enough to significantly reduce the overall unemployment rate. Recent data do provide some grounds for optimism on the employment front; for example, initial claims for unemployment insurance have generally been trending down, and indicators of job openings and firms’ hiring plans have improved. Even so, with output growth likely to be moderate for awhile and with employers reportedly still reluctant to add to their payrolls, it will be several years before the unemployment rate has returned to a more normal level. Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established.”
  • Related postings on the financial system
  • Pew: Generations and their gadgets

    Report: Generations, Mobile, Seniors – Generations and their gadgets, by Kathryn Zickuhr, Feb 3, 2011 Many devices have become popular across generations, with a majority now owning cell phones, laptops and desktop computers. Younger adults are leading the way in increased mobility, preferring laptops to desktops and using their cell phones for a variety of… Continue Reading

    Agencies Propose Changes in Reporting Requirements for OTS-Regulated Savings Associations and Savings and Loan Holding Companies

    News release: “The federal bank and thrift regulatory agencies announced proposed changes today to reporting requirements for savings associations and savings and loan holding companies regulated by the Office of Thrift Supervision (OTS). The proposed changes include a change from quarterly Thrift Financial Reports to quarterly Consolidated Reports of Condition and Income, commonly known as… Continue Reading

    Three papers published by The Lancet show that the worldwide prevalence of obesity has nearly doubled since 1980

    “Three papers published by The Lancet show that the worldwide prevalence of obesity has nearly doubled since 1980. Meanwhile high-income countries have shown impressive reductions in mean blood pressure and cholesterol, with some countries doing much better than others. The Articles present country by country trends in obesity, cholesterol, and blood pressure.” Continue Reading

    Plug-in Electric Vehicles: A Practical Plan for Progress The Report of an Expert Panel

    Plug-in Electric Vehicles: A Practical Plan for Progress, The Report of an Expert Panel, February 2011, School of Public and Environmental Affairs at Indiana University “A variety of alternatives to petroleum are under consideration, including biofuels, natural gas, hydrogen, and electricity. Each of these alternatives has benefits and limitations in different applications, and each may… Continue Reading

    City Councils in Philadelphia and Other Major Cities: Who Holds Office, How Long They Serve, and How Much It All Costs

    City Councils in Philadelphia and Other Major Cities: Who Holds Office, How Long They Serve, and How Much It All Costs, The Pew Charitable Trusts’ Philadelphia Research Initiative, February 2, 2011 “The 17 current members of Philadelphia City Council have served longer, on average, than their peers in 14 other big cities, and they comprise… Continue Reading