Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: greatplains_guy who wrote (50233)	3/26/2012 8:54:53 AM
From: Hope Praytochange	Read Replies (2) \| Respond to of 71588

Bernanke: US needs faster growth to lower unemployment 03/26 08:50 AM By Pedro da Costa and Jason Lange WASHINGTON, March 26 (Reuters) - The U.S. economy needs to grow more quickly if it is to produce enough jobs to bring down the unemployment rate, Federal Reserve Chairman Ben Bernanke said on Monday. Bernanke said the recent decline in the jobless rate, which dropped to 8.3 percent in February from 9.1 percent last summer, was "somewhat out of sync" with the rather modest pace of economic growth. U.S. gross domestic product grew 3 percent in the fourth quarter, but is expected to have slowed to just below 2 percent in the first three months of this year. Bernanke said the recent drop in the jobless rate could reflect an effort by businesses to recalibrate their payrolls after unusually heavy job cuts during the recession. If this is the case, he said, progress may stall. "To the extent that this reversal has been complete, further significant improvements in the unemployment rate will likely require a more rapid expansion of production and demand from consumers and businesses, a process that can be supported by continued accommodative policies," Bernanke told a gathering of the National Association for Business Economics. U.S. stock index futures extended their gains and government debt prices trimmed their losses after Bernanke's comments. The dollar turned negative against the euro and trimmed its gains versus the yen. Bernanke reiterated his concern about long-term unemployment, but argued against the notion that much of the problem is due to structural factors that monetary policy could not address. "The continued weakness in aggregate demand is likely the predominant factor. Consequently, the Federal Reserve's accommodative monetary policies, by providing support for demand and for the recovery, should help, over time, to reduce long-term unemployment as well," he said.