Weekly Wrap: The latest on the Fed, paying for natural disasters
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Tess Vigeland talks with Bloomberg’s Lizzie O’Leary and Felix Salmon who blogs for Reuters.
On Ben Bernanke’s latest remarks on the slow economic recovery:
Lizzie O’Leary: If you look at what the stock market did this week, they don’t seem to have that much confidence in his remarks. Although I do think he gets the award for the, ‘No duh, Fed Chair’ remark of the century, which is the ‘jobs situation remains far from normal.’
On how paying for the wild weather across the country might affect the economic recovery:
Felix Salmon: I think the weather, it comes and it goes. Even, unless if you have a sort of Japan-style tsunami, it doesn’t have a massive long-term economic effect. But it certainly doesn’t help, and right now, we need all the help we can get.
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