U.S. Federal Reserve Chairman Ben Bernanke said Wednesday he commiserates with the struggles of the nation's unemployed and the body he leads has tools available to attempt to ease those burdens.
Bloomberg reports the central banker addressed reporters after two days of Fed meetings adjourned and tackling the jobless rate is one key objective of the intervention that the Fed initiates. He also suggested that long-awaited phase of economy-spurring measures might be sooner than later.
"The medium-term outlook relative to our June projections has been downgraded" and "remains unsatisfactory," Bernanke told reporters on Wednesday. "Unemployment is far too high" and "I fully sympathize with the notion that the economy is not performing the way we would like."
A former aide to ex-Fed chief Paul Volcker said another round of measures to stimulate the economy will occur within months, according to Bloomberg. Neal Soss predicted the next round will be in place by February of next year and it might be coordinated with a program from the European Central Bank to rein in the sovereign debt crisis.
The Associated Press reports the U.S. Federal Reserve is predicting slowing development and increased rates of unemployment.
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