Bernanke: The End of the Recession is Near
May 5, 2009 by Miranda Marquit
Filed under Finance
Many people are concerned about the recession and their finances. So it is probably with some relief that many people heard the news that Fed Chair Ben Bernanke believes that the recession will soon be coming to an end.
Citing the probability that the recent contraction in the economy is slowing, and that he feels that an economic bottom is practically eminent, Bernanke is cautiously optmistic that an economic recovery will begin by the end of the year. Of course, the beginning of a recovery may mean that the recession is ending, but it will be quite some time beyond that before the economy is actually significantly recovered. (I’m sure Obama hopes recovery is apparent by 2012.)
At any rate, there are still economic issues to contend with, including continued foreclosures and increasing unemployment. But consumer confidence is up, and there is evidence that people are buying homes again (according to the March pending sales data). If tax cuts and confidence inspire consumer spending, it could be that things start to turn around — at least that’s what Bernanke thinks. So it could be that the end of the recession is in sight and things could start picking up. The other issue, of course, is whether or not you believe Bernanke…
Do you think the end of the recession is near?
image source: Wikipedia
