Well...I guess we're pretty much fucked then, huh? LMAO
By Greg Robb
WASHINGTON (MarketWatch) - The United States is much closer than generally thought to full employment and it is time for the Fed to shift away from its ultra-easy monetary policy stance, said Narayana Kocherlakota, the president of the Minneapolis Federal Reserve Bank, on Wednesday. In a speech in Rapid City, S.D., Kocherlakota noted that, in the wake of a financial crisis in the early 1990s, Sweden saw a sharp, and lasting, spike in the maximum rate of unemployment, or the level of joblessness sustainable over the long-term without causing inflation to rise. Kocherlakota said the U.S. inflation rate is signaling a similar spike in the maximum employment level in the U.S. and the Fed should "be responsive to such signals."