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) 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.
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
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
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
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
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
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
