Fed Chairman Thinks Recession is Over!

Federal Reserve Chairman Ben Bernanke said it more emphatically that: “We are in a recovery.” The wall street journal reports that Bernanke said today that he thinks that the” recession is very likely over at this point”. He was saying from a technical standpoint, his outlook is hardly bright. The economy, he said, is likely to grow moderately in 2010, leading to little improvement in the job market. So, these all things are indicating towards a strong financial recovery and now the US economy is slightly moving towards the stability.

Bernanke also added in his speech that it’s still going to feel like a very weak economy because credit conditions remain tight and a decline in the unemployment rate will probably only happen gradually, the WSJ wrote.

If that’s the case, is the recession really over?

Technically, economists expect the gross domestic product to expand by about 3 percent this quarter, which would halt the slide. But if unemployment continues to rise, as it is likely to do, should we be defining the recession in such narrow terms?

Now, we can hope the best that this long recession has been ended which was lingering and the recovery of it will become the cause of the US financial and economical growth. President Obama and his administrations are doing their job as the best as they can. So, I am very hope full that with continues efforts President Obama will get his goal of life and lead our country on the way of success.