BEIJING (AP) -- One of President Barack Obama's top economic advisers says he sees no short-term way to reduce America's high unemployment, and he expects slow growth for the near future.
Paul Volcker, who is chairman of Obama's Economic Recovery Advisory Board and a former Fed chairman, says he suspects unemployment "will gradually decline." He says the economic outlook is for "continuing but limited increases in economic activity for the next year or more."
Volcker made the comments in Beijing, where he's attending a meeting of the International Financial Forum.
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