Nobel Winner Pissarides Says U.S. Economy Risks ‘Lost Decade’

The United States risks an extended period of low economic growth with little job creation and additional emergency measures being considered by the Federal Reserve aren’t likely to work, said Christopher Pissarides, the winner of this year’s Nobel Prize for Economics.

“There is a high risk that there might be a lost decade,” Pissarides, a professor at the London School of Economics, said in an interview in Rome today. “The situation is worrying because there hasn’t been as much job creation as expected.”