Fed Chairman Says American Economy Is Poised to Grow
Ben S. Bernanke, the chairman of the Federal Reserve, offered his most hopeful assessment in more than a year on Friday, asserting that “the prospects for a return to growth in the near term appear good.”
In a much-awaited speech here to central bankers and economists from around the world, Mr. Bernanke went beyond the Fed’s most recent assessment that the nation’s economy was “leveling out” and that the recession was ending.
Noting that short-term lending markets are functioning “more normally,” that corporate bond issuance is strong and that other “previously moribund” securitization markets are reviving, Mr. Bernanke said that both the United States and other major countries were poised for growth.
A surprising increase in sales of previously owned homes in July bolstered that view. A brokers’ group reported on Friday that existing home sales surged 7.2 percent last month as first-time buyers took advantage of an $8,000 tax credit, and other buyers were enticed by falling prices and low mortgage rates.
I am the walrus.
Three cheers for Nada!
Thanks!
Ben Bernanke was just re-appointed by Obama on Monday
The Fed must go, and here is why…
Comment on the whole page!
my comment
Does anyone know where I can get the original assessment from the Fed?
China recently was named the 2nd largest economy in the world, essentially bumping Japan out of position http://www.nytimes.com/2010/08/16/business/global/16yuan.html
This is a nested reply.
Does not appear that the digress.it plugin supports nested comments. That is okay, it is still very useful.
This is a comment on paragraph 2.
This is a comment on paragraph 4.