“ If we use Krugman’s analysis [of a rough Taylor rule], and the recent CBO projections for the average annual unemployment rate (10.2% in 2010, 9.1% in 2011, and 7.2% in 2012), the Fed would not raise rates until some time in 2012.
— Via CalculatedRiskBlog.com; This is what Bernanke means when he says “extended period”
