andy levin's paper will show the unemployment rate used to be the only number you had to look at, but now, of course, there are many dimensions, and as the labor market has been changing structurally other time, it's much harder to make an assessment. as you know the fed has modally lowered recently -- modestly lowered their estimate of the sustainable rate of unemployment, and i would gather that's mostly in response to the fact that unemployment has fallen quickly, it's reached 5.5% and so far there's not much indication of wage pressures. as i said, nobody really has that number, nobody really knows that number with any precision and the fed will continue to grope to find out what the right number is. >> and just underscoring a point that ben made, andy levin's paper, andy's going to be on the next panel, goes into a lot of depth on the points that were just made. let's see is there anyone way in the back there? okay, person waving your paper other there. >> the chinese have made a concerted effort in the last two or three years to establish the u.n. as a more prominent currency. t

followed by a short q&a we'll take a few minutes to set up our panel which will include valerie wilson andy levine emsellem and myself moderated by date west sell. following the -- david wessel. before we begin i like to thank alexander burger and the open philanthropy project for support of our work. i want to thank from the bottom of my heart, ben spielberg and michelle who were absolutely integral making this event happen along with many of my other cbpp colleagues, including susan stein mets and larry haas. i want to thank kelly hunter from csis. i want to especially thank ben bernanke and david wessel, along with my awesome panelists for their generous agreements to be here today. ben bernanke hardly needs an introduction. he was of course the chair of the federal reserve from 2006 to 2014 around a member of the fed board of governors before that. he has made more important contributions to our understanding of macroeconomics, economic history and monetary policy than i have time to note here. i have always thought we were extremely lucky to have him where he was during the great recession.

and his initial rtz same as adam levine and that's where the similarities end. it is andy levey. he put a foot in his mouth so often you would think he played rugby in uruguay dwaf vin mcbegin -- gavin mcguinness. and he put down more spirits than ghostbusters. tv writer and producer rob long. he is one of the founders of ricochet.com. >> a block. the lede. that's the first story. >> is bb one of my people? according to abc news.com when israeli prime minister benjamin netanyahu addressed congress on tuesday his secret weapon was his strong millen eight l game. he mentions social networks. >> iran's supreme leader spews the oldest hatred of anti-semitism with the newest technology. he tweets that israel must be annihilated. he tweets. >> he tweets. he dropped in the name of a certain internet search engine. >> while the final deal has not yet been signed, special el -- certain elements of any potential deal are now a matter of public record. you don't need intelligence agencies and secret information to know this. you can google it. >> and for good measure he threw in a reference