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Fed: High Unemployment For 2 More Years

Posted on February 17 2010 9:09 pm
Liz Blaine is a financial analyst, author and freelance writer on finance, economics and politics. Follow her on Twitter and her blog Liz Blaine.
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By: Jeannine Aversa

The Federal Reserve expects unemployment will stay high over the next two years because recession-scarred Americans are likely to stay cautious, making for only a moderate-paced economic recovery.

Fed policymakers said in a forecast released Wednesday that it will take “some time” for the economy and the jobs market to get back to normal. They did not spell out how long that would be. Previously they suggested it could take five or six years for economic conditions to return to full health. A “sizable minority,” however, thinks it could take more than five or six years for the economy and the job market to return to normal.


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