Did Federal Reserve Chairman Ben Bernanke say the the recession is over?
WASHINGTON — Federal Reserve chairman Ben Bernanke said Tuesday the US recession “is very likely over” technically but that the economy remains weak due to difficult credit conditions and high unemployment. Bernanke, speaking at a Washington forum, said the economy is likely to show growth in the third quarter after a slump that began in late 2007 in his clearest comments to date indicating the economy has turned a corner. “Even though from a technical perspective, the recession is very likely over at this point, it’s still going to feel like a very weak economy for some time as many people will still find that their job security and their employment status is not what they wish it was,” he said in response to a question. “So that’s a challenge for us and policymakers going forward.” Bernanke was speaking at a Brookings Institution economic forum a year after the collapse of Lehman Brothers triggered a financial panic and deepened the recession. A year later, Bernanke said that there i
Bernanke says recession ‘very likely over’ By JEANNINE AVERSA (AP) – 31 minutes ago WASHINGTON — Federal Reserve Chairman Ben Bernanke said Tuesday the worst recession since the 1930s is probably over, although he cautioned that pain — especially for the nearly 15 million unemployed Americans — will persist. Bernanke said the economy likely is growing now, but he warned that won’t be sufficient to prevent the unemployment rate, now at a 26-year high of 9.7 percent, from rising. “From a technical perspective, the recession is very likely over at this point,” Bernanke said in responding to questions at the Brookings Institution. “It’s still going to feel like a very weak economy for some time because many people will still find that their job security and their employment status is not what they wish it was.” The recession, which started in December 2007, has claimed a net total of 6.9 million jobs. With expectations for a lethargic recovery, the Fed predicts that unemployment will top 1
Federal Reserve Chairman Ben Bernanke said Tuesday the worst recession since the 1930s is probably over, although he cautioned that pain — especially for the nearly 15 million unemployed Americans — will persist. Bernanke said the economy likely is growing now, but he warned that won’t be sufficient to prevent the unemployment rate, now at a 26-year high of 9.7 percent, from rising. “From a technical perspective, the recession is very likely over at this point,” Bernanke said in responding to questions at the Brookings Institution. “It’s still going to feel like a very weak economy for some time because many people will still find that their job security and their employment status is not what they wish it was.” The recession, which started in December 2007, has claimed a net total of 6.9 million jobs.
Federal Reserve Chairman Ben Bernanke said Tuesday the worst recession since the 1930s is probably over, although he cautioned that pain — especially for the nearly 15 million unemployed Americans — will persist. Bernanke said the economy likely is growing now, but he warned that won’t be sufficient to prevent the unemployment rate, now at a 26-year high of 9.7 percent, from rising. “From a technical perspective, the recession is very likely over at this point,” Bernanke said in responding to questions at the Brookings Institution. “It’s still going to feel like a very weak economy for some time because many people will still find that their job security and their employment status is not what they wish it was.” The recession, which started in December 2007, has claimed a net total of 6.9 million jobs. Sources: http://finance.yahoo.com/news/Bernanke-says-recession-very-apf-
