High Unemployment Will Remain

The high unemployment rate is now scheduled to continue right through 2012.

Its pretty bad out there as we know.

Bernanke spoke on Wednesday and eased the minds of investors with a promise of improved growth in 2012 along with a message of absolute willingness to come to the rescue with more stimulus monies - freshly printed, packed, and delivered ASAP or when needed and requested. Then he delivered a message to Main Street saying - get lost ingrates. The high unemployment rate will remain, no medical procedures can revive it.

CS Monitor: Ben Bernanke: High unemployment rate to persist, even as economy revives

The Fed’s latest forecast means that the jobless rate by the end 2012 will be high enough that it could imperil President Obama’s reelection bid.


The central bank predicts growth in inflation-adjusted economic output of 2.7 to 2.9 percent for 2011, and 3.3 to 3.7 percent in 2012.


(The main causes of high unemployment are)...slow growth in consumer spending, the depressed condition of the housing market, and cuts in spending by all levels of government.