Asked whether a double-dip recession is likely, Mr. Bernanke repeated a reassurance he offered Monday that he doesn’t think so. The Fed is forecasting moderate growth in the 3.5% range, with modest declines in unemployment, and it’s sticking with that forecast. An important transition could be underway for the economy — away from government support and toward private demand, he noted. That’s a formula for continuing expansion.Growth of 3.5% would be considered good if the economy were at or near full employment, but is considered tepid coming out of a recession. Replace this text with...
Friday, June 11, 2010
Bernanke and the Fed Forecast Slow Growth
(HT Drudge Report) Ben Bernanke, in testimony before the House Budget Committee, gave a tentative forecast of economic growth (Jon Hilsenrath, Wall Street Journal, "Bernanke Takes Cautious Tone in Congressional Testimony").
It is good to know that we are looking up instead of down. But, what is helping or causing us to have the slow growth? Regardless slow is better than none. I am glad to see it coming up. I work at a company that the more people that have jobs, the better.
ReplyDeleteHopefully this trend continues to grow.
ReplyDeleteI hope the economy wont go through another recession, but the way the unemployment rate reaching levels of almost 10% scares me. Hopefully things will start to turn around and Obama will not take it out on tax payers.
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