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Bernanke says “recession likely over”, consumer confidence up

Ben Bernanke, chairman of the US central bank the Federal Reserve, said 15 September that the recession in the US was probably technically over, but that unemployment would continue to undermine any recovery. A recession is officially no or negative economic growth for two consecutive quarters. Latest data about US employment indicates that the unemployment rate is at its highest since 1983, at 9.7 percent. US consumer confidence was up significantly, according to a survey published 15 September by Investor’s Business Daily/Technometrica market Intelligence. BBC, Reuters

Posted by Sean Ecker on 16 September 2009 at 9:25 | permalink

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News story, GenevaLunch, 16 September 2009.

Filed under: Politics, World news

Tags: Ben Bernanke, central bank, consumer confidence, economic growth, Federal Reserve, recession, unemployment

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