"The unemployment rate is expected to decline to between 7 and 7-1/2 percent by the end of 2012."
By the way, this is roughly the same unemployment rate as in 1992, when Bush won 38% of the vote, and that too after the Gulf War. It's very difficult to win elections when unemployment is that high.
If I were a Democrat at the hearings, I would push Bernanke on this issue, as their electoral futures depend on his actions. If I were a Republican, I would also push Bernanke--because unemployment this bad will create pressure for all sorts of additional government intervention on the fiscal side.
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