Bernanke Says US Unemployment Could Stay High

By: AP
By: AP

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.

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  • by Donna on Mar 28, 2012 at 08:23 AM
    It's easy to sleep when you have a job! What a jerk.
  • by @programs? Location: CS on Mar 27, 2012 at 08:29 PM
    Amen to that!!!!!!!!
  • by @programs? Location: CS on Mar 27, 2012 at 08:29 PM
    Amen to that!!!!!!!!
  • by Programs? Location: COS on Mar 27, 2012 at 05:18 PM
    Maybe we are not at the high of 25% unemployment like it was during the Great Depression but some programs like the CCC (Civilian Conservation Corps) Roosevelt rolled out would be very helpful about now. Stop sending so much money to help other countries and use a little here to save us. It will get some willing to work unemployed busy doing something that will make them feel valued and also claen up some of the cities like ours that cannot afford to keep the weeds out of the medians as well as clean up our declining landscapes, parks and monuments as well as other projects.
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