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<blockquote data-quote="texan" data-source="post: 1017575" data-attributes="member: 38206"><p><strong>US economy "far from satisfactory", says Bernanke</strong></p><p><strong></strong></p><p><strong>WASHINGTON: US Federal Reserve Chairman Ben Bernanke expressed deep worry over the </strong></p><p><strong>US economy on Friday, calling the situation unsatisfactory and saying labour market </strong></p><p><strong>stagnation was "a grave concern".</strong></p><p><strong></strong></p><p><strong>In a much-anticipated speech to central bankers in Jackson Hole, Wyoming, the chief of the </strong></p><p><strong>US central bank offered no new promises of intervention to boost growth, but strongly </strong></p><p><strong>signalled that he was leaning that way.</strong></p><p><strong></strong></p><p><strong>"The economic situation is obviously far from satisfactory," he said in the keynote speech</strong></p><p> <strong>of the Fed's annual conference of central bankers.</strong></p><p><strong></strong></p><p><strong>"Growth in recent quarters has been tepid, and so, not surprisingly, we have seen no net </strong></p><p><strong>improvement in the unemployment rate since January," he said.</strong></p><p><strong></strong></p><p><strong>Unless the economy begins to grow more quickly than it has recently, the </strong></p><p><strong>unemployment rate is likely to remain far above levels consistent with maximum </strong></p><p><strong>employment for some time."</strong></p><p><strong></strong></p><p><strong>Bernanke made clear that the jobless rate, at 8.3 percent, is one of his biggest worries</strong></p><p> <strong>as head of the central bank, which has reducing unemployment as a key goal.</strong></p><p><strong></strong></p><p><strong><a href="http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/1223300/1/.html" target="_blank">US economy "far from satisfactory", says Bernanke - Channel NewsAsia</a></strong></p></blockquote><p></p>
[QUOTE="texan, post: 1017575, member: 38206"] [B]US economy "far from satisfactory", says Bernanke WASHINGTON: US Federal Reserve Chairman Ben Bernanke expressed deep worry over the US economy on Friday, calling the situation unsatisfactory and saying labour market stagnation was "a grave concern". In a much-anticipated speech to central bankers in Jackson Hole, Wyoming, the chief of the US central bank offered no new promises of intervention to boost growth, but strongly signalled that he was leaning that way. "The economic situation is obviously far from satisfactory," he said in the keynote speech of the Fed's annual conference of central bankers. "Growth in recent quarters has been tepid, and so, not surprisingly, we have seen no net improvement in the unemployment rate since January," he said. Unless the economy begins to grow more quickly than it has recently, the unemployment rate is likely to remain far above levels consistent with maximum employment for some time." Bernanke made clear that the jobless rate, at 8.3 percent, is one of his biggest worries as head of the central bank, which has reducing unemployment as a key goal. [url=http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/1223300/1/.html]US economy "far from satisfactory", says Bernanke - Channel NewsAsia[/url][/B] [/QUOTE]
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