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Phelps Says 7%-7.5% Unemployment `New Normal' for U.S.

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Published on Mar 23, 2012

Nov. 15 (Bloomberg) -- Edmund Phelps, a Nobel Prize-winning economist and professor at Columbia University, talks about the Federal Reserve's policy of quantitative easing and its likely impact on job creation in the U.S. A group including former Republican government officials and economists urged Fed Chairman Ben S. Bernanke to halt his expansion of monetary stimulus, saying it risks an inflation surge. Phelps speaks with Margaret Brennan on Bloomberg Television's "InBusiness." (Source: Bloomberg)

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