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Old 01-07-2011, 11:42 AM   #1
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Default Bernanke Says Economy Better BUT.....

Ben Bernanke Fed Reserve Boss says economy is getting better , but we still need to use the $600 Billion Bond deal for more employment growth. China does not like that.

Federal Reserve Chairman Ben Bernanke says it will take years for jobs to come back |

Last edited by marshmallow; 01-07-2011 at 11:45 AM. Reason: add more info
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Old 02-04-2011, 12:22 AM   #2
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Bernanke feels their pain...

Pain of the Jobless Belies Rosier Economic Outlook From Bernanke
Feb 3, 2011 - The U.S. economy is doing better -- unless you're out of work or worry about the cost of buying gasoline and putting food on your table.
That was an unspoken bottom line of Federal Reserve Chairman Ben Bernanke's speech today at the National Press Club in Washington, where he asserted that the U.S. economic recovery is back on track and that the emergency measures taken by the Fed are working. "Overall," Bernanke said, "improving household and business confidence, accommodative monetary policy, and more-supportive financial conditions, including an apparent increase in the willingness of banks to make loans, seems likely to lead to a more rapid pace of economic recovery in 2011 than we saw last year."

The Fed chief pointed to a pickup in household spending in recent months and robust growth in businesses' appetite for new equipment and software as evidence of a self-sustaining recovery. He also argued that the strengthening stock markets and lower borrowing costs for companies that issue bonds paint a picture that "lends credence" to the view that the Fed's decision in November to pump $600 billion into the economy is "providing significant support to job creation and the economy."

But Bernanke acknowledged that "the job market has improved only slowly," and that the gains in private-sector employment last year -- following the loss of about 8 1/2 million jobs in 2008 and 2009 -- "were barely sufficient to accommodate the inflow of recent graduates and other new entrants to the labor force and, therefore, not enough to significantly reduce the overall unemployment rate." Still, he cited recent "grounds for optimism on the employment front," and in particular a downward trend in the first-time claims for unemployment insurance that are reported each week by the Labor Department.

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