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You are here: Home / News / KC Fed chief doesn’t see unemployment rate going down

KC Fed chief doesn’t see unemployment rate going down

January 6, 2011 By [email protected]

The President of the Kansas City Federal Reserve Bank does not expect the national unemployment rate to fall below nine percent this year.

KC Fed President Tom Hoenig says that’s because there are too many people unemployed and too many new people entering the job market for the percentage to drop much even with a faster-growing economy. He thinks the economy will grow as much as four percent this year, a full percentage point more than last year.

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