Although neither are up yet - they should be soon.
- First, Harry Holzer - professor at Georgetown University and a labor economist here at the Urban Institute was on Washington Journal this morning. He had a good overview of employment and earnings during and before the recession. I have talked with Harry a lot here on various projects - he's provided comments and advice on things - although I've never worked on one of his projects directly.
- Second, Bernanke will hold the Fed's first press conference at 2:15 today. This will be very interesting to watch. The Bernanke Fed has been amazingly open - he's done a lot more interviews than his predecessor (I'm not sure Greenspan did any while he was in the office), he makes a regular effort to try to talk to the public rather than to bankers and policy makers. These press conferences are in the same vein. I wonder a little if the middle of a crisis is the best time to start, but better late than never. People scrutinize the Fed's words and markets will move on what is said in a way that they wouldn't necessarily move on any old slip of the tongue in a presidential press conference. Still, this is good to see. It will be tough for him. Nobody is entirely happy with him - some think he's done too much, and the rest think he hasn't done enough.
The impossibility of true utilitarianism
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