Bernanke Says US Unemployment Could Stay High

By: AP
By: AP
To join the conversation on this story and others, "like" our KKTV 11 News Facebook page!

WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke says that without faster economic growth, it could take "a few more years" for unemployment to decline to a normal rate.

In an interview with ABC News, Bernanke says he is sleeping better these days because the U.S. financial system looks stronger, and threats from Europe's debt crisis look less worrisome. He says the jump in gas prices should have only a moderate effect on growth.

But Bernanke says the economy isn't strong enough to continue to reduce unemployment quickly. The unemployment rate has declined from 9 percent in September to the current 8.3 percent.

Further declines to a healthy level between 5 percent and 6 percent would require a pickup in economic growth, Bernanke says.

KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.

If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.

powered by Disqus
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 144466365 -
Gray Television, Inc.