Full Transcript Plus Video from Chairman Bernanke’s Press Conference: December 12, 2012
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Paul Krugman or Ben Bernanke?

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It has been about three and a half years since the economic recovery began…. [U]nemployment remains high. About 5 million people—more than 40 percent of the unemployed—have been without a job for six months or more, and millions more who say they would like full-time work have been able to find only part-time employment or have stopped looking entirely. The conditions now prevailing in the job market represent an enormous waste of human and economic potential. A return to broad-based prosperity will require sustained improvement in the job market, which in turn requires stronger economic growth. Meanwhile, apart from some temporary fluctuations that largely reflected swings in energy prices, inflation has remained tame and appears likely to run at or below the Federal Open Market Committee’s 2 percent [per year] objective in coming quarters and over the longer term…