Politics | Federal Reserve Bernanke: Unemployment Will Be High for Years Financial picture is 'unusually uncertain' By John Johnson Posted Jul 21, 2010 3:24 PM CDT Copied Copies of the Monetary Policy Report to the Congress. (AP Photo/Alex Brandon) Ben Bernanke isn't exactly spreading good tidings in his semiannual report to Congress. Two of the lowlights, from the New York Times: Unemployment: Expect it to remain high, as in well above 7%, through the end of President Obama's first term. Bernanke said it will take "a significant amount of time" to restore the 8.5 million jobs lost in the recession. Economic outlook: It remains "unusually uncertain," two words never good to hear from a Fed chairman's mouth, as evidenced in the stock market's quick drop. Conditions here and overseas, he added, have “become less supportive of economic growth in recent months.” Read These Next A space capsule carrying ashes of 160 people crashed in the ocean. The death toll in the Texas floods has risen to 27, including 9 kids. See the best BBQ cities in the US. Iraq's national game of deception brings out the best bluffers. Report an error