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Bernanke: Unemployment to Be ‘High for a While’

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Posted on Jun 8, 2010
Bernanke
Wikimedia Commons / U.S. Federal Reserve

Bad news Bernanke: The Fed chief says the U.S. job market isn’t going to improve in the near future.

There are economic indicators that we want to be on the high end of the scale, but unemployment isn’t one of them. Unfortunately, according to Federal Reserve Chairman Ben Bernanke, the U.S. unemployment rate is going to remain “high for a while.”  —KA

Bloomberg Businessweek:

While the Fed will raise interest rates from a record low before the economy returns to “full employment,” Bernanke said officials don’t know when that process will start. The banking system isn’t fully healthy and lenders are “cautious” in providing credit, he said.

“The unemployment rate is still going to be high for a while, and that means that a lot of people are going to be under financial stress,” Bernanke said at the event, part of a dinner hosted by the Woodrow Wilson International Center for Scholars.

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rico, suave's avatar

By rico, suave, June 8, 2010 at 7:00 pm Link to this comment

Freddy:
Because you’re jealous of his success.

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Fat Freddy's avatar

By Fat Freddy, June 8, 2010 at 3:25 pm Link to this comment

I am not a violent person, by nature. So why is it, when I look at that picture of “Helicopter” Ben, I get a desire to bury a ball peen hammer right in the middle of that chrome dome?

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Fat Freddy's avatar

By Fat Freddy, June 8, 2010 at 3:20 pm Link to this comment

Bernanke is my shepherd; I shall not want.
He maketh me to lie down in greenbacks.
He leadeth me beside the still economic waters.
He inflatheth my dollar.
He leadeth me in the path of fiscal righteousness in His name.

Yea, though I walk through the valley of the shadow of bankruptcy,
I will fear no destitution: for thou art with me.
Thy prime rates and thy T-Notes, they comfort me.
Thou preparest a table before me in the presence of my Chinese, Saudi, and Japanese enemies.
Thou anointest my head with snake oil; my accounts runneth over.

Surely solvency and low interest rates shall follow me all the days of my life,
and I will dwell in the House of the Fed forever.

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By Kevin C, June 8, 2010 at 12:01 pm Link to this comment
(Unregistered commenter)

Ben should be unemployed himself!

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Ed Harges's avatar

By Ed Harges, June 8, 2010 at 10:51 am Link to this comment

He looks so serene,
like he has his own personal breeze,
which gently wafts over him,
no matter what the weather’s like for everybody else.

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