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Fed: Jobless Rate Will Stay High
The Fed isn’t offering any encouragement about the jobless rate.
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WASHINGTON (November 10, 2009)--Federal Reserve officials, warn the jobless rate will probably remain high because the economic recovery won't be strong enough to spur a lot of hiring.
The comments from the presidents of regional Fed banks in San Francisco and Atlanta are the first public words from Fed officials since the government reported last week that the jobless rate is now 10.2 percent.
The Fed officials warn that rising unemployment could put a crimp on consumer activity, and restrain the recovery.
Latest Comments
Posted by: Texas
Location: Texas
on Nov 11, 2009 at 12:28 PM
Where are all the jobs the Stimulas Package was going to create? If there is any, when are they going to start? Why was the Stimulas so important that it had to be done IMMEDIATELY to keep the unemployment rate at 8% or lower, now the rate is over 10% and if the TRUE FACTS were told it's actually closer to 20%. This Adminstration has almost CRIPPLED the United States beyond repair!
Posted by: wondering
Location: now
on Nov 10, 2009 at 10:07 PM
Just how is that hope and change is workin for ya now ? Hmmmmm
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