Fed Chairman Confirms Recession Likely Over, Well Kind Of


WASHINGTON: In his first speech since he was reappointed, Federal Reserve Chairman Ben Bernanke said the recession is “very likely over.”

He based his findings on his vast experience working for the Federal Reserve as well as those closer to home. He announced his conclusions in front of experts and Washington insiders at the Brooking’s Institution on Tuesday night. When asked how he formulated such views he confirmed, “It was in the main due to my children asking for more pocket money.”

While answering questions, on Tuesday, Bernanke said the pace of recovery in 2010 would be “moderate” and added that the unemployment rate would come down “quite slowly,” due to “headwinds” on ongoing credit problems and the effort by families to reduce household debt.

“It’s going to take some time to achieve a complete recovery.” When stock investors asked when exactly the country will be over the recession he confirmed, ” When my wife starts buying new shoes again. I can confirm she came close to buying a pair of Jimmy Choos last week, so we are getting close.”

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