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Fed Shifts Focus to Employment

Joblessness mars Bernankes record as the Fed chairman testifies before Congress.

By Caroline Salas Gage, Bloomberg | Updated on July 17, 2012

Joblessness is the blemish on Ben S. Bernanke’s report card.

Since the recession ended in June 2009, the Federal Reserve chairman has achieved inflation near his target of 2 percent, bolstered capital across the banking system and helped underpin confidence in the U.S. economy that’s contributed to record-low borrowing costs for the nation. Meanwhile, the unemployment rate has stalled above 8 percent for 41 consecutive months.

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