Ben Bernanke Says U.S. Recession ‘Very Likely’ Has Ended

Federal Reserve Chairman Ben Bernanke said the worst U.S. recession since the 1930s has probably ended, while warning that growth may not be strong enough to quickly reduce the unemployment rate.

Ben Bernanke Recession“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,” Ben Bernanke said today at the Brookings Institution in Washington, responding to questions after a speech.

The remarks are Bernanke’s most explicit statement that the contraction that began in December 2007 is over.

They echoed comments yesterday by San Francisco Fed President Janet Yellen and followed a report today showing retail sales rose last month by the most in three years, adding to evidence of a recovery. Read full story here

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