Narayana Kocherlakota

Retraining May Be the Best Cure for Unemployment

Most policymakers cling to orthodox levers in an effort to boost employment, but another stream of thought seems to be picking up momentum behind the scenes. It seems the jobs are available but workers with the right skills aren't. Therefore, push retraining as a remedy.

Despite Pressure, the Fed Is Low on Options

Home sales are way down, unemployment is still high, and investors are waiting for the Federal Reserve to take action. But while passions run high about what the Fed should do next, its ability to move the needle on GDP growth or unemployment may be more limited than most assume.