Aug. 3 (Bloomberg) -- Edmund Phelps, a professor at Columbia University and winner of the 2006 Nobel Prize in economics, talks with Bloomberg's Michael McKee about the outlook for U.S. economic recovery.

Phelps also discusses the potential benefits of subsidies for low-wage workers and tax policy. (Source: Bloomberg)

00:00 Outlook for recovery, consumer demand
02:24 Wage subsidies, unemployment rate; taxes

Running time 04:07

Last Updated: August 3, 2009 09:16 EDT