Fed chief Ben Bernanke sees recession over this year | The Australian
Right after my last post about the current market rally (see chart below to get the sense of it) the news confirm how a rally develops. If the good news keep coming, including the euphoria that comes along, it is very easy to visualize how markets may rush on the upside just as easy as they did in the downside.
Now, in the news linked above, Ben Bernanke, the US Fed chief, states that if the US banking system stabilizes the recession should end later this year and fairly strong growth should return in 2010!
He also added that he does not expect deflation. The real work is now on fixing the international financial markets and regulations so that a similar collapse does not repeat in the future.
The statements above were given in his speech given at the Council of Foreign Relations. As we can see, the focus slowly shifts to fixing the financial system, meaning that a lot of what needed to be done has been done. Now we are to look into the results. And the most amazing thing is that not only we can see the forecasts of the end of the current recession but also comeback of growth.
Right after my last post about the current market rally (see chart below to get the sense of it) the news confirm how a rally develops. If the good news keep coming, including the euphoria that comes along, it is very easy to visualize how markets may rush on the upside just as easy as they did in the downside.
Now, in the news linked above, Ben Bernanke, the US Fed chief, states that if the US banking system stabilizes the recession should end later this year and fairly strong growth should return in 2010!
He also added that he does not expect deflation. The real work is now on fixing the international financial markets and regulations so that a similar collapse does not repeat in the future.
The statements above were given in his speech given at the Council of Foreign Relations. As we can see, the focus slowly shifts to fixing the financial system, meaning that a lot of what needed to be done has been done. Now we are to look into the results. And the most amazing thing is that not only we can see the forecasts of the end of the current recession but also comeback of growth.
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