NEW YORK (CNNMoney) -- The U.S. economic recovery is finally getting stronger, Federal Reserve Chairman Ben Bernanke said Friday morning.
Bernanke, in remarks prepared for testimony before the Senate Budget Committee, said there is increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold.
"Overall the pace of economic recovery seems likely to be moderately stronger in 2011 than it was in 2010," he said.
But he said a rebound in employment remains elusive, and that unemployment is likely to remain close to 8% two years from now.
The remarks came just an hour after the Labor Department reported that unemployment had dropped to 9.4% in December from 9.8%. Still, the number of jobs added was lower than expectations.
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