Bernanke's sudden turn towards Woodfordian open-ended policy was genuinely surprising, just as John Roberts ruling on Obamacare was.

Rahm Emanuel seems to have caved as I hear reports that the Chicago teachers strike will end with the teachers feeling victorious.

Yglesias writes about poverty.

This post to DeLong seems to be response to Binyamin Appelbaum's piece today in the New York Times - which I liked to below - where apparently he says that the Fed's focus on unemployment is somehow new.

THE OBJECTIVES OF THE FEDERAL RESERVE: MEMORANDUM FROM GOVERNOR MARRINER ECCLES TO SENATORS GLASS, FLETCHER, AND BULKLEY ON JUNE 6, 1935 by DeLong

Woodford on Optimal Monetary Policy Rules by Mark Thoma