Bernanke: 6% Unemployment Rate Still 3 Years Away

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  • FED Doesn't See Unemployment Reaching Satisfactory Levels Until 2016 Which Means CTRL + ALT + PRINT
February 27, 2013 6:45 pm est

Feb 27th 2013 1:45pm est

Unemployment probably won’t reach the 6 percent level until 2016Federal ReserveChairman Ben Bernanke told Congress on Wednesday. Bernanke who is delivering a second day of testimony on Capitol Hill continued to defend the central bank’s easy monetary policy and warned Congress against letting looming spending cuts take place. Bernanke also sees little risk of a spike in interest rates in the near term but did warn of the potential economic damage from the automatic spending cuts that go into effect on Friday.

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