Recession very likely over, says Ben

In his speech delivered yesterday at the Brookings Institution in commemoration of the 1-year erm, death anniversary of Lehman Brothers, Fed Chief Ben Bernanke said the recession is very likely to be over while remaining cautious over the recovery in the jobs front.

Federal Reserve Chairman Ben Bernanke said Tuesday that the recession was “very likely over,” as consumers showed some of the first tangible signs of spending again.

Mr. Bernanke, who had become cautiously more upbeat in recent weeks amid signs of third-quarter growth, said for the first time that forecasters agree “at this point that we are in a recovery.”

Well, I don’t think it’s not too difficult to be under the belief that the US is out of the recession.  After all, the smaller countries in Asia and Europe have already emerged from recession.  Why can’t the US? I mean, there’s the stock market rally, the boost in spending, the improving jobless claims (though in no way is this a strong indicator)… Things are improving, needless to say. So yeah, I suppose people only needed to hear it come from Ben.

Source: WSJ

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