'There is no magic wand for unemployment.'
Short clip from The Bernank's QE5 presser last week. Runs 45 seconds.
Bernanke admits that the Fed is basically powerless against unemployment at this stage, having utilized all available Keynesian tools known to mankind. Remarkably, he also admits publicly to balance sheet risk for the Fed.
Another highlight (runs 1 minute):
Watch more highlights here:
Photos by William Banzai7, who finds a magic money wand for Bernanke.