Bad News Bernanke Strikes Again
Posted on Feb 9, 2011
As if the last couple of years haven’t been brutal enough, here comes Federal Reserve Chairman Ben Bernanke with the exasperating news that the job market isn’t going to markedly improve for “several years.” —KA
Until the economy sees sustained and strong job creation, “we cannot consider the recovery to be truly established”, he added.
Mr Bernanke also said the US government budget deficit, which rose sharply during the crisis, was “unsustainable”.
The long-term challenges of reducing the deficit were “daunting”, he added.
AP / Susan Walsh