Soaring unemployment an 'unacceptable outcome,' says Ben Bernanke
(NEWSER) - Ben Bernanke offered a full-throated defense of the Fed’s recent actions in a speech in Frankfurt today, saying the $600 billion quantitative easing plan was essential to reducing joblessness. “On its current economic trajectory, the United States runs the risk of seeing millions of workers unemployed or underemployed for years,” he said. “As a society, we should find that outcome unacceptable.” Keeping the US economy chugging, he argued, is vital for the global economy. More»
