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Posted: 4:45 p.m. Thursday, Nov. 10, 2011
By Lauren Rozyla
Fox Business contributed to this report
FORT BLISS, Texas —
Federal Reserve Chairman Ben Bernanke made a visit to Fort Bliss on Thursday morning; the first time in history a Federal Reserve chairman has visited a military installation.
Bernanke spent more than an hour reassuring soldiers on post that the economy does have the potential to stabilize, but he understands people are struggling right now.
"I know, it doesn't feel like the recession ever ended," Bernanke said in his address more than 200 Fort Bliss families. "The unemployment rate remains painfully high, and more than two-fifths of the employed have been out of work for longer than six months, by far the highest ratio since World War II."
Bernanke said the economy has been growing and adding jobs for the past two years.
"Supporting job creation is half of our marching orders, so to speak; the other half is controlling inflation," Bernanke said.
As reported by Fox Business, while officials said the trip was instigated by base commanders, some Fed watchers think the timing and venue are no coincidence -- the Fed is under attack from two prominent Texas politicians running for the Republican presidential nomination, Gov. Rick Perry and Rep. Ron Paul.
Paul has publicly slammed Bernanke, stating he believes the country doesn't even need a Federal Reserve Bank at all; something Bernanke said was completely unrealistic.
In a Gallup poll last week, Bernanke came in dead last with voters who were asked which 10 leaders and institutions they most trusted to create jobs. Bernanke clocked in at 40 percent, according to a Fox Business report.
But soldiers who attended told KFOX14, they overall said they feel this is the Federal Reserve trying to make an effort to understand concerns of the "common American."
"People don't always get this type of information from the chairman of the Federal Reserve," said Command Sgt. Maj. Alvin Jones.
"Him [Bernanke] making an appearance here is definitely is a positive step," said Sgt. Jennifer Spradlin, a public affairs soldier.
Bernanke closed the conference by saying ultimately, our strengths as a nation will reassert themselves if our country takes steps that are necessary to prepare for the future -- including putting the federal budget on a sustainable path, and improving primary and secondary education.
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