Bernanke: Recession Could End In '09

By: Associated Press
By: Associated Press
To join the conversation on this story and others, "like" our KKTV 11 News Facebook page!

WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke says America's recession "probably" will end this year if the government succeeds in bolstering the banking system.

Appearing on CBS' "60 Minutes," Bernanke seemed to express a bit more optimism this could be done.

Still, Bernanke stresses the prospects for the recession ending this year and a recovery taking root next year hinge on a difficult task: getting banks to lend more freely again and getting the financial markets to work more normally.

Bernanke says -- quote --"We've seen some progress in the financial markets, absolutely." But he adds "until we get that stabilized and working normally, we're not going to see recovery."

He says the government is working on a plan that he thinks will stabilize the financial system.

But Bernanke says even if the recession ends this year, the unemployment rate will keep climbing past the current 8.1 percent.

KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.

If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.

powered by Disqus
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 41293807 -
Gray Television, Inc.