Bernanke says recession could end in 2009
www.chinaview.cn 2009-03-16 07:57:09   Print

Special Report: Global Financial Crisis

¡¤Bernanke said on Sunday that U.S. recession could come to an end "probably this year."
¡¤Bernanke said that concerted efforts by the U.S. gov't likely averted a depression similar to the 1930s.
¡¤Meanwhile, he warned the nation's 8.1 percent unemployment will continue to rise.

U.S. Federal Reserve Chairman Ben Bernanke testifies before the Senate Budget Committee on Capitol Hill in Washington March 3, 2009.

U.S. Federal Reserve Chairman Ben Bernanke testifies before the Senate Budget Committee on Capitol Hill in Washington March 3, 2009. (Xinhua/Reuters File Photo)
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    WASHINGTON, March 15 (Xinhua) -- U.S. Federal Reserve chairman Ben Bernanke said on Sunday that the U.S. recession could come to an end "probably this year."

    In a rare interview televised by CBS, Bernanke said that concerted efforts by the U.S. government likely averted a depression similar to the 1930s.

    "I think we've averted that risk," said the U.S. central bank chief. "I think we've gotten past that and now the problem is to get the thing working properly again."

    "We'll see the recession coming to an end probably this year," predicted Bernanke, noting the recovery might begin next year, "and it will pick up steam over time."

    Meanwhile, he warned the nation's 8.1 percent unemployment will continue to rise.

    He also expressed concern the U.S. might lack the political will to take further measures to stabilize the financial system, reiterating the call for an overhaul of the U.S. financial regulations.

    "The biggest risk is that we don't have the political will," said Bernanke, the first sitting Federal Reserve chief to conduct a television interview in 20 years.

    There's a danger that "we don't have the commitment to solve this problem, and that we let it just continue. In which case, we can't count on recovery," warned Bernanke.



Obama says U.S. economy to recover next year

    WASHINGTON, Feb. 9 (Xinhua) -- U.S. President Barack Obama Monday night said the U.S. economy will recover next year if right steps were taken now.

    In the first prime time news conference of his presidency, Obama said the 2009 will be a difficult year, but adding that he's hoping to start seeing significant improvement in the economy early next year. Full story

Highlights of Bernanke's speech on financial regulations reform

    WASHINGTON, March 10 (Xinhua) -- Federal Reserve Chairman Ben Bernanke on Tuesday urged a strategic overhaul of the U.S. financial regulatory system in an effort to smooth out the boom-and-bust cycles in financial markets.

    The following are highlights of his speech to the Council on Foreign Relations: Full story

Bernanke lays out financial regulation reform strategy

    WASHINGTON, March 10 (Xinhua) -- Federal Reserve Chairman Ben Bernanke on Tuesday laid out his financial regulation reform strategy, urging an overhaul of the U.S. system.

    "We must have a strategy that regulates the financial system as a whole, in a holistic way, not just its individual components," Bernanke said in a speech to the Council on Foreign Relations. Full story

Bernanke: Ability to stabilize financial markets "critical" to economic recovery

    WASHINGTON, March 3 (Xinhua) -- U.S. Federal Reserve Chairman Ben Bernanke said Tuesday that the government's ability to stabilize financial markets is "critical" to an economic recovery.

    "The effectiveness of the policy actions taken by the Federal Reserve, the Treasury Department and other government entities in restoring a reasonable degree of financial stability will be critical determinants of the timing and strength of the recovery," Bernanke said in testimony prepared for the Senate Budget Committee. Full story


U.S. stocks bounce as Bernanke foresees recovery in 2010
 
    NEW YORK, Feb. 24 (Xinhua) -- U.S. stocks rebounded on Tuesday morning after Federal Reserve Chairman Ben Bernanke said the current economic recession may end this year.

    Shares plunged with all major indexes losing more than 3 percent on Monday. Dow Jones and Standard & Poor's 500 index fell to the lowest closing since 1997. Full story

Bernanke said current recession may end in 2009

    WASHINGTON, Feb. 24 (Xinhua) -- U.S. Federal Reserve Chairman Ben Bernanke said Tuesday that if measures are taken properly, the current recession will end in 2009 and 2010 will be a year of recovery.

    In testimony prepared for the Senate Banking Committee, Bernanke warned that the U.S. economy is undergoing "a severe contraction." Full story

Editor: Xiong Tong
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