Fed expects jobless rate to stay high for next 2 years
Photo credit: MCT | Thousands lined up for a recent job fair in Philadelphia. (February 2010)
The Federal Reserve predicts 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 say it will take "some time" for the economy and the jobs market to get back to normal. And, a minority think it could take more than five or six years for that to happen.
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