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Noted for February 13, 2013

Janet Yellen Points Out That the Federal Reserve Has Had No Help in Stemming the Depression

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Jared Bernstein writes:

Janet Yellen Speaks, Makes Critical Points, and Presents a Graph I Shoulda Made: I’ll have more to say about this remarkable speech given yesterday by Fed Vice Chair Janet Yellen (getting ready to go on NOW with Alex Wagner on MSNBC).  Well—remarkable in the sense that it’s brimming with common sense that is far too uncommon these days.

Read this now and study this chart, one I’m kicking myself for not making.