The US workforce has shrunk by a 1m over the past two months as discouraged jobless give up the hunt.The euro rocketed to a two-month high of $1.29 and sterling jumped two cents to almost $1.54 after the Fed confessed that the US economy may not recover for five or six years. Far from winding down emergency stimulus, the bank may need a fresh blast of bond purchases or quantitative easing.The Fed thinks this depression will last until 2016. Ouch!
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