Bernanke Says Recession Should End This Year

Fed Chairman Ben Bernanke said the recession should end this year and 2010 "will be a year of recovery," if actions taken by the government lead to some stabilization in financial markets.

But for now, the U.S. is undergoing a "severe contraction," Mr. Bernanke said in prepared remarks to the Senate Banking Committee. He added that the contraction "appears to have continued into the first quarter of 2009."




posted by Peter Greene