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Bernanke Bets On Continued Recovery
By Doug Caverly
Staff Writer
Article Date: 2010-06-09
Whatever the stock market is doing right now, know that the situation might have been worse if not for something U.S. Federal Reserve Chairman Ben Bernanke said earlier this week. Bernanke gave investors a bit of encouragement by indicating that the economy isn't likely to enter a second recession.
According to Greg Robb, Bernanke instead noted several positive facts, saying at a dinner sponsored by the Woodrow Wilson International Center for Scholars, "We've seen consumer coming back. We've seen firms spending more. There are some signs the private sector is picking up the baton and moving the economy forward."
All in all, then, the head of the Federal Reserve believes, "My best guess is we'll have a continued recovery [but] it won't feel terrific."
It might have cheered some folks up more to hear talk of double-digit growth and the American juggernaut, of course, but this sounds like a realistic prediction. And anything (other than an official depression) is better than a double-dip recession, anyway.
Let's just hope all of the problems in Europe are sorted out soon, or that they at least don't affect the economy on this side of the Atlantic if they persist. Bernanke pretty much stayed mum on this subject.
About the Author:
Doug is a staff writer for WebProNews. Visit WebProNews for the latest eBusiness news.
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