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Bernanke warns of slow progress ahead on jobs
Reuters ^ | 3/1/2012 | Mark Felsenthal and Pedro da Costa

Posted on 03/01/2012 2:09:34 AM PST by U-238

Federal Reserve Chairman Ben Bernanke on Wednesday offered a tempered view of the U.S. economy, pouring cold water on the notion that recent upbeat signs herald a stronger recovery.

Bernanke told Congress that unless growth accelerated, the unacceptably high U.S. unemployment rate would not keep dropping.

But he stopped short of signaling further Fed bond purchases, dashing the hopes of some traders in financial markets who were betting on more monetary stimulus.

"The job market is far from normal," Bernanke said. "Continued improvement ... is likely to require stronger growth in final demand and production."

The swift decline in the U.S. unemployment rate in recent months, to a three-year low of 8.3 percent in January from 9.1 percent in August, has surprised economists both within and outside the Fed given the economy's relatively soft performance.

"The decline in the unemployment rate over the past year has been somewhat more rapid than might have been expected, given that the economy appears to have been growing during that time frame at or below its longer-term trend," Bernanke told the U.S. House of Representatives Financial Services Committee

(Excerpt) Read more at reuters.com ...


TOPICS: Foreign Affairs; News/Current Events
KEYWORDS: benbernake; benbernanke; bernanke; economy; enconomy; federalreserve; obama; obamanomics; recovery; useconomy
Kiplingers called it again
1 posted on 03/01/2012 2:09:40 AM PST by U-238
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To: U-238

FYI: Ben Bernanke’s term as Federal Reserve chairmanship term ends in January of 2014


2 posted on 03/01/2012 2:28:22 AM PST by U-238
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To: U-238

Ben not carrying the Media’s story that we are in a recovery.


3 posted on 03/01/2012 2:30:28 AM PST by scooby321
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To: scooby321

Good point


4 posted on 03/01/2012 2:33:02 AM PST by U-238
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To: U-238
"Decline in UNEMPLOYMENT?"

Total BS.
First 8.3 (If it was a real number) is nothing to brag about.
The real number is somewhere between 12-20%. You are only counted on the unemployment roll if you are getting an unemployment check. If you exhaust your benefits, then you are considered employed, or not counted as unemployed. If you get a part time job then you are considered employed.

5 posted on 03/01/2012 2:35:16 AM PST by DeaconRed (Cold War Veteran. . . . US Army Security Agency 1964-1968)
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To: Voter#537

I agree with you.


6 posted on 03/01/2012 2:35:43 AM PST by U-238
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To: U-238
ben burnyourmoney is a wholly owned subsidiary of hell inc.

LLS

7 posted on 03/01/2012 4:10:06 AM PST by LibLieSlayer (Hey repubic elite scumbags... jam mitt up your collective arses!)
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To: All; U-238
"The decline in the unemployment rate over the past year has been somewhat more rapid than might have been expected, given that the economy appears to have been growing during that time frame at or below its longer-term trend,"

Cooked books. Come on, Bernanke, when people give up looking en masse we both know the rate drops.

To my knowledge no one tried to explain the massive drop in black unemployment in one month. Did anyone see speculation?

8 posted on 03/01/2012 5:19:22 AM PST by newzjunkey (Santorum: 18-point loss, voted for Sotomayor, proposed $550M on top of $900M Amtrak budget...)
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