In a June 7 question-and-answer session at the Woodrow Wilson International Center for Scholars, Federal Reserve Chairman Ben Bernanke predicted a slow economic recovery, with unemployment rates in the double digits for the near term.

He said interest rate increases likely would resume before the job market fully recovers. “Even though technically we’ll be in recovery and the economy will be growing, unemployment will still be high for a while and that means that a lot of people will be under financial stress,” Bernanke explained.

Source: The New York Times, Sewell Chan (06/08/10)