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Old 16-10-2009, 09:01 AM   #1 (permalink)
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Default Fed: jobless rate to remain 9% at end of 2010

The US Federal Reserve Board forecasts the country's jobless rate will remain above 9 percent throughout the next year, with a full economic recovery still to come.

The US central bank on Wednesday released minutes of the 2-day policy meeting by the Federal Open Market Committee through September 23rd.

The committee agreed to upgrade its economic assessment, but said that most members believed it would take time for the economy to fully recover.

They said that the unemployment rate, currently close to 10 percent, will remain high. They forecast that the rate would be 9.25 percent at the end of next year, and 8 percent in 2011.

Financial experts say a tough employment situation would hamper the economic recovery in the US.

The committee discussed enhancing measures to resolve the financial crisis, despite the improved economic assessment.

Some policy-makers insisted on expanding the Fed's emergency program to purchase mortgage-backed securities to help support the recovery.

But others opposed the idea, saying the improved outlook means the program can be scaled back.

2009/10/15 15:11(JST)
(JST: UTC+9hrs.)

http://www.nhk.or.jp/daily/english/15_22.html

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