Bernanke expresses concern for the chronically unemployed and would like to see faster growth so they offer to print more money and give to Goldman Sachs

Wouldn't we all like more growth? 

The Fed has been trying to reduce unemployment to no avail.  Someone needs to inform them that there is no magic wand that will produce more money just by turning up the printing press.  If that were the case, then Zimbabwe and Venezuela would have no unemployment.  Multipliers be damned.  Via IMN:
While the economy has been in an expansion phase since the middle of 2009, "we need about 2% to 2.5% real growth just to accommodate new workers coming into labor force," Bernanke said.

"So at the pace of growth that we are seeing, we are not growing fast enough to materially reduce the unemployment rate," he added.

In October, the economy created a net 151,000 jobs, better than the 41,000 decline in September, but not enough to bring down the unemployment rate, which has been at 9.6% since August.

This has implications for household finances, for instance, making it difficult to meet mortgage payments, "which contributes to the ongoing foreclosure crisis."

Despite the recent job creation, "We are still very, very short," Bernanke said.
Specifically, she said consumers need a significant run of robust payroll gains. "Gains of 100, 150, 175 (thousand) won't be enough."

Bernanke also expressed concern about the elevated share of people who have been unemployed for more than six months, which is "very unusual and it's very worrisome."

As a result, "Getting new jobs, getting unemployment down is of incredible importance."


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