. >> lehrer: joe stiglitz, he did talk about this dual mandate and the challenge and balancing act. on the substance, what do you think about where he was on the substance today of fed policy? >> the big issue in the minds of most americans, not wall street but most americans remains jobs. he mentioned a number, for instance, that the number of jobs is seven million below what it was in 2008 at the peak. what he didn't mention is in the intervening years if things had been normal something between four or five million or more americans would have entered the labor force. so our jobs gap is not just seven million, it's more like 11 12 million. what was so disconcerting was the numbers that he reported about prospects of job growth, of g.d.p. growth in in a range of around 3%. at that pace of g.d.p. growth, employment growth will be so slow that the number of people that are unemployed will remain high for years to come. and the numbers that he was quoting didn't seem to square their circle. very moderate growth and the reality that at that moderate growth unemployment is going to be