Uncertainty over the economic outlook has added between one and two percentage points to the U.S. unemployment rate since 2008, according to an estimate from the San Francisco Federal Reserve Bank. The finding, published on Monday in the regional Fed bank's latest Economic Letter, quantifies for the first time the drag that uncertainty has had on the economy since the Great Recession. "Had there been no increase in uncertainty in the past four years, the unemployment rate would have been closer to 6 percent or 7 percent than to the 8 percent to 9 percent actually registered," wrote San Francisco Fed research ... (full story)