New Normal: Bernanke Says Unemployment Above 6.5% Until Mid-2015

Federal Reserve Chairman Ben Bernanke stated that the Fed will keep the interest rates extremely low until unemployment drops to 6.5%, a switch from the previous interest rate determinations based on date. However, he stated that the Fed may not raise the rates after unemployment hits that number. Bernanke predicted that unemployment would not drop below 6.5% until mid-2015, and that inflation should be around 2% during that time period.