Bernanke: Recession (Technically) "Likely Over"

Federal Reserve Chairmand Ben Bernanke said that the recession is probably over but had a caveat: "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 because many people will still find that their job security and their employment status is not what they wish it was." He added in his remarks to the Brookings Institute, "Unfortunately, unemployment will be slow to come down. It will come down but it may take some time. Obviously, that's a very serious concern." Unemployment was 9.7% last month; it's expected to hit 10% by the end of the year.

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By Jen Chung in News on September 15, 2009 2:03 PM

Comments [rss]

NannyState

Oops, he meant to say that the recession's over for Goldman Sachs. Easy mistake to make...

Reflect

Exactly, hes talking to people with a lot of money in the bank that want more in the bank. Not ur average joe.

Amanda Harletsch

and the proletariat still jobless while wall street celebrates victory.

Rob T Firefly

This instills me with a lot of confidence. I'm going to splurge and eat dinner tonight!

hubcap

this guy's a corrupt smug jackass. the invisible hand will be fingerbanging us far into the night for years to come

JacqueMehoff

so does that mean home sellers can stop worrying and go back to upping their asking prices?

valeriob

Almost definitely for sure, without a doubt, perhaps almost over soon.

Thanks Benny!

valeriob

PS short gold

Trilby16

These people are disconnected from reality. They can sell eachother shares of stock for ever-inflated prices (new bubble) but if actual people (the rabble) can't afford to buy anything because they have no jobs, then where's your recovery, huh? Ridiculous.