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 Trump and Putin appear in agreement on nuclear arms treaty. NFL fans see same costly gaffe two weeks in a row. Former NFL QB Mark Sanchez out of hospital, facing charges. Jane Goodall wanted Musk and Trump on a rocket to Mars. Report an error