Bernanke Sees Economy Stabilizing

But not going to improve quickly

By Kevin Spak, Newser Staff

Posted May 5, 2009 11:11 AM CDT

(Newser) – It looks like the economy is stabilizing, Ben Bernanke told the congressional Joint Economic Committee today, but recovery won’t be quick, and there are still “sizable job losses” on the horizon. “We continue to expect economic activity to bottom out, then to... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Miami Face-Eater Identified

'Serpent Pastor' Dies of Snake Bite

New York Times (Source Grid »)

Bernanke warns against credit 'relapse'
Bloomberg

Money

Congress • Ben Bernanke • Federal Reserve • testimony • economy

More Newser Stories

Bernanke Sees Slow Recovery, Despite Positive Signs

Still hopes economy will grow by year's end

(NEWSER) - The US has a long way to go before the economy returns to full health, despite hopeful signs, Ben Bernanke told the House budget committee today. “Recovery will only gradually gain momentum and that economic slack will diminish slowly,” the Fed chairman said. With businesses cautious, “the unemployment rate is likely to rise for a time, even after economic growth resumes”—which he still believes could happen at year’s end, CNNMoney reports. More»

We Know What We're Doing, Bernanke Assures Congress

Fed chair defends response to financial crisis

(NEWSER) - Ben Bernanke defended the government’s response to the financial crisis today before Congress, saying regulators’ various approaches reflect different aspects of a unified strategy, MarketWatch reports. “We’re not making it up,” the Federal Reserve chief said. “We’re working along a program that has been applied in various contexts. We’re not completely in the dark.” More»

Bernanke: Recession Should End This Year

2010 will be 'year of recovery'

(NEWSER) - If the government’s plans work, the recession will be over by the end of this year, Ben Bernanke told senators today, making 2010 a “year of recovery.” But, the Wall Street Journal reports, the Federal Reserve chief pointed to continuing storm clouds, saying the US is undergoing a “severe contraction,” and that “the downside risks probably outweigh those on the upside.” More»

Fed Sees High Unemployment All Next Year

Forecast sees it at 8.6% at end of 2012

(NEWSER) - If President Obama were hoping for a quick election-year turnaround in the jobless rate, the Federal Reserve burst his bubble today. The Fed projected unemployment will be at 8.6% at the end of 2012, not much better than the 9.1% registered in September of this year, reports the Wall Street Journal . The projections don't get remarkably better after that: The Fed sees the rate at 8% by the end of 2013 and 7.7% the following year. More»

Bernanke: Recovery 'Is Close to 'Faltering'

He advises Congress not to cut spending

(AP) - Federal Reserve Chairman Ben Bernanke said today that the US economic recovery "is close to faltering" and that the central bank is prepared to take further steps to support it. (That potential action apparently pleased investors: The Dow came off the day's lows, fell a bit, then rebounded furiously to close up 153 .) Bernanke told the congressional Joint Economic Committee that the economy is growing more slowly than the Federal Reserve had expected. The biggest factor depressing consumer confidence is poor job growth, he added. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Bernanke Sees Economy Stabilizing

But not going to improve quickly

Congress • Ben Bernanke • Federal Reserve • testimony • economy

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Bernanke Sees Slow Recovery, Despite Positive Signs

Still hopes economy will grow by year's end

We Know What We're Doing, Bernanke Assures Congress

Fed chair defends response to financial crisis

Bernanke: Recession Should End This Year

2010 will be 'year of recovery'

Fed Sees High Unemployment All Next Year

Forecast sees it at 8.6% at end of 2012

Bernanke: Recovery 'Is Close to 'Faltering'

He advises Congress not to cut spending

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?