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Powell Is Wrong. More Stimulus Won't Create Employment – Investment Watch


Correcting this misclassification and counting those who have left the labor force since last February as unemployed 
would boost the unemployment rate to close to 10 percent in January
.”
“It will require a society-wide commitment, with contributions from across government and the private sector.”
I agree with his first point. If you account for those no longer counted as part of the labor force, the real unemployment rate 
(more commonly known as the U-6 rate) is near 10%.
However, where  I disagree, as we exposed in part one of this discussion, monetary and fiscal supports when they are non-productive, do not create the confidence required for economic growth. ....

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