Fed Sees More Signs of Recovery

By Newser Editors and Wire Services
Posted Jul 29, 2009 1:50 PM CDT
Federal Reserve Chairman Ben Bernanke delivers a report on the country's economic and financial health before the House Financial Services Committee.   (AP Photo)
camera-icon View 1 more image

(Newser) – The economy is finally beginning to show signs of stabilizing in some parts of the US, bolstering hopes of a broader-based recovery this year. A Federal Reserve snapshot of economic conditions issued today finds that most of the Fed's 12 regions indicated either that "the pace of decline has moderated" or "that activity has begun to stabilize, albeit at a low level." The improved assessment raises hope that the recession, which started in December 2007, is drawing to a close.