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Posts Tagged ‘Bernanke statement to Congress July 17 2013’

Bernanke Walks It Back

Posted by Larry Doyle on July 18th, 2013 8:53 AM |

It took a few weeks, but the relatively recent smokescreen of a strengthening economy put forth by Ben Bernanke began to lift yesterday.

I find it especially interesting that it was not some new string of weak economic data that prompted the Fed chair to express increased caution about what is truly going on in the real world economy.

In fact, for what I believe might be the first time, Bernanke cautiously addressed the fact that the structural changes in our economy reflected in a significant decline in the labor force participation rate might be more indicative of our economic health than the actual unemployment rate.

A whiff of the truth amidst the daily diet of verbal diarrhea emanating from D.C? What a novel concept.   (more…)






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