06/22/2011 09:30 am ET | Updated Aug 22, 2011

'The Real U.S. Fiscal Crisis Is Joblessness'

The risk of economic stagnation should dominate discussions this week among the voting members of the Federal Reserve Board at its two-day meeting. Without dramatic action, the U.S. confronts an uncertain future—one that suggests "Americans on average would experience slower gains in living standards than did their parents and grandparents," according to consultancy McKinsey & Co.

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