Fed Chairman Ben Bernanke went on 60 minutes and talked about the economy, fed actions, the prospect for our economy in the future, and his recommendations for the tax code in a wide ranging interview. He talked about the economic divide that is occurring in America, defended the “quantitative easing” policy of the Fed, and urged a reduction in tax rates along with simplification of the code by eliminating a host of deductions. Bernanke highlighted a critical point, both economically and politically. The unemployment rate for college graduates is 5%, while the unemployment rate for high school graduates is over 10%. His point on “two societies” developing is borne out to some degree by that number. A good interview with some interesting points by Bernanke. The Washington Post columnist Eugene Robinson talked about the interview in his column today.

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