But with a slow recovery. He sounds a bit too optimistic on the timing of the bottom but a bit of optimism couldn't hurt. Reuters:
The U.S. economy will begin to turn up later this year provided the financial sector continues to mend, although unemployment will remain high for a while, Federal Reserve Chairman Ben Bernanke said Tuesday.Maybe during this recovery people can think more about the consumers, since they're supposed to be so important. The Republicans never cared about anyone outside of the board rooms but maybe, just maybe, this time will be different with the Democrats in control.
In testimony to a congressional committee, Bernanke sounded more confident that a recovery was at hand than he had in recent weeks.
He said the U.S. housing market may be bottoming after a three-year slide, and pointed to tentative signs of a rebound in consumer spending, which is the driving force behind the economy.
