In the wake of today’s new jobs numbers, which showed the unemployment rate drop to 9.4 percent even amid disappointing job growth numbers, Fed Chief Ben Bernanke told Congress that he foresees a “self-sustaining” recovery taking shape. Still, he defended the Federal Reserve’s $600 billion bond-buying stimulus program, saying it’s still needed. Bernanke also predicted that, even amid this nascent job growth, it would take another four to five years for the unemployment rate to return to a normal rate of six percent.
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