by the high level of long-term unemployment and the fact that jobs and work remain well below precrisis peaks. >> the fed chief said having many people out of work for extended periods could lead to structural problems for the whole economy. he said they will have more difficulty finding jobs the longer they are unemployed. >>> now following his speech, the dow jones industrial average ended higher regaining almost all of the losses made last week. so let's see how stocks here in tokyo are kicking off. we're going to go to ra mean mellegard at the tokyo stock exchange. so wall street finishing on a high note after the fed chief's commts. what more can you tell us? >> very good morning, ai. judging by whatever way you take bernanke's words there it did lift the markets and continued the upward momentum we saw for u.s. markets, in fact pretty much erasing most of the losses we saw last week for the dow just in one day. you can see that reversal was quite strong. let's have a look theatnikkei and topix here this tuesday morning in tokyo. you can see pretty much also following the trend there. up

overall, the total amount of income and output of this american economy is now above the precrisis peak. millions of americans now have health care with better conch because of the affordable care act. and health care costs are rising less rapidly. we're becoming much more efficient in how we use energy. more reliant on clean energy sources of energy. less dependent on foreign sornss of energy. in communities across the country we're seeing promising reforms in education to improve the quality of teaching in science and math and to improve access to higher education. the early shape of the expansion we should all find encouraging for the future trajectory of the economy. because growth is led by private demand with the strong gains in investment and exports. we've made real progress eliminating the economic imbalances too much debt among individuals, too much leverage in the financial sector, too much construction in residential commercial real estate. the problems, tim balances that created the unstable growth that proceeded the crisis. the balance sheet of the business sector is in re

high level of long-term unemployment and the fact that jobs and hours worked remain well below precrisis peaksven without adjusting for growth and labor force. >> shepard: net that trigger to wave wall street pessimism. a lot of folks took that to mean feds will keep interest rates low. they liked that a lot. the dow gained 160 points today alone. nasdaq up 55. the big story was the s&p 500 bouncing back after worst week of the year to hit a four year high. an open microphone catching president obama telling the russian president dmitry medvedev that the u.s. and russia will have to wait until after the november election to deal with the heated issue of missile defense. because, as president obama put it, he will have more flexibility after he wins re-election >> shepard: i will pass that on to vladimir. the statement wasn't meant to be public. republic lawmakers have jumped on it saying they will attempt to block any attempt to weaken u.s. missiles attempts. it's political reality. very difficult to get anything done during an election year. as you may know, president obama is in south korea

example, the number of people working and total hours worked are still significantly below the precrisis peakst economists judge to be its long-run, sustainable level. of particular concern is the large number of people who have been unemployed for more than six month. long-term unemployment is particularly costly to those directly affected of course but in addition because of its negative effects on workers skill and attachment to the labors for, long-term unemployment may ultimately reduce the productive capacity of our economy. deet bait about how best to address long-term unemployment raises another important question. is the current high level of long-term unemployment primarily the result of cyclical factors, such as insufficient aggregate demand or structural changes such as a worsening mismatch between worker skills and employers' requirements? if cyclical factors freedom nate, then policies that support a broader economic recovery should be effective in addressing long-term unemployment as well. but if the causes are structural, then other policy tools will be needed. ly argue today

precrisis level as a share of gdp. overall, the total amount of income and output of this american economy is now above the pre-crisis peakdable care act and health care costs are rising less rapidly. we are becoming much more efficient in how we use energy, more reliant on clean energy sources and less dependent on foreign sources of energy and in communities across the country we are seeing promising reforms in education to improve the quality of teaching of science and math and to improve access to higher education. their early shape of the expansion we should all find encouraging for the future trajectory of the economy as growth is led by private demand with a the strong gains in investment and exports. we have made real progress in eliminating the economic imbalances too much debt among individuals, too much leverage in the financial sector, too much construction and residential real estate and the problems the imbalances it created and the unsustainable growth that preceded the crisis. the balance sheet of the business sectors and exceptionally strong shape and the economy as a whole is more productive than before