Fed will raise rates before "full employment," Bernanke says

06/7/2010 | Bloomberg

Ben Bernanke, chairman of the Federal Reserve, says the economic recovery likely won't be strong enough to quickly reduce the unemployment rate. "The unemployment rate is still going to be high for a while, and that means that a lot of people are going to be under financial stress," Bernanke said. The central bank will increase interest rates before "full employment," he said, but officials don't know when the rate-increase process will begin.

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