Bernanke on Unemployment
Federal Reserve Chairman Ben Bernanke told an Indianapolis audience he doesn't expect a double-dip recession -- but he is concerned about a jobless recovery. Bernanke hasn't wavered from his forecast of sluggish but steady economic growth. He told the Economic Club of Indianapolis that 40% of the people on unemployment have been out of work six months or more. Bernanke says there's nothing wrong with the labor force itself -- he says the persistent high unemployment is a direct result of growth too slow to support more jobs. He says the Fed will work all the monetary levers it has to encourage economic growth, but says the responsibility for fiscal policy rests with Congress and the White House.