The Chairman of the Federal Reserve Board sees light at the end of the tunnel:
The recession is “very likely over,” Federal Reserve Chairman Ben S. Bernanke said Tuesday, but the job market is likely to remain weak for some time.
Taking questions following a speech at the Brookings Institution, Bernanke gave his most explicit endorsement yet to the idea that the economy bottomed out sometime this summer and has begun growing again, at least as measured by gross domestic product.
“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,” Bernanke said.
Of course, that assumes that we don’t end up in a trade war, double dip recession, or inflationary spiral thanks to the trillions of dollars that Bernanke, Hank Paulson, George Bush, and Barack Obama has pumped into the economy.
And, oh yea, there’s that pesky national debt we’ll have to deal with someday.
September 15th, 2009 at 6:03 pm
[...] the federal government has failed. The Great Society is great only in power, in size and in cost. Bernanke: Recission Is “Very Likely” Over – belowthebeltway.com 09/15/2009 The Chairman of the Federal Reserve Board sees light at the [...]