George S. May Business Blog

Fed Chairman Ben Bernanke says the recession is over

Federal Reserve Chairman Ben Bernanke recently gave a question and answer session at Brookings Institution.

According to sources who were present, the Fed Chairman’s overall outlook on the state of he economy was “cautiously more upbeat”. In fact Bernanke flat out said, “We are in a recovery” as opposed to past months where the economy’s state was still in the recession category.

“From a technical standpoint, the recession is very likely over at this point,” the Fed chairman said. But, don’t break out the champagne just yet. The economy, according to Bernanke, is likely to grow moderately in 2010, leading to little improvement in the job market.

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