Bernanke: Recession is over
Oh really. Well I guess the party should be at Ben’s house, shouldn’t it? Does consumer spending account for 2 thirds of the US GPD? Businessweek doesn’t think so, but even so it seems only logical that the average citizen won’t start recovering until employment recovers. In that regard Benny is a bit more cautious in his statements.
Federal Reserve Board Chairman Ben Bernanke said Tuesday that the recession has ended – at least based on the numbers. “From a technical point [of view], the recession is very likely over at this point,” Bernanke told a conference at the Brookings Institution. Bernanke said there is a “risk” that labor markets will remain weak through 2010 because growth will be too anemic to create jobs. Bernanke noted that many economists now expect the labor market to recover slowly. But he said this was only a forecast and might be wrong.
Source/Full Story:: Bernanke: Recession is over – MarketWatch



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