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The 7 Most Important Things We Learned From Bernanke's Interview With Diane Sawyer

Federal Reserve Chairman Ben Bernanke sat for an interview with ABC's Diane Sawyer, and we dug through the transcript for the most important details.

We found these seven points to be the most enlightening:


1 Comments in Response to

Comment by Christopher Cellone
Entered on:

 As a very knowledgeable economist, Dr. Ben Bernanke is experiencing tremendous pressure in trying to humor the ignorant when they ask silly questions which show their lack of knowledge in Economics. For example, in this interview, a question was asked when is the economy supposed to be going back to FULL EMPLOYMENT. There is no such thing as REAL "Full Employment". "Full Employment" is just an economic expression where everyone who wishes to work at the going wage-rate for his own type of labor is employed. However, workers take time to switch from one job to another of their own choosing, and while they are doing this, a small amount of small "unemployment" always exists. This is called FRICTIONAL UNEMPLOYMENT [which negates the existence of real "Full Employment"]. I wish I have the opportunity to discuss this subject in a more detailed manner to make you understand. I can feel the frustrations of those of us who had specialized in the study of Economics ... I can really relate to Dr. Bernanke's disappointment when he is facing those who are asking him ignorance economic questions that he is forced to answer, the most difficult part of it is to be polite while "educating" them at the same time.

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