Federal Reserve Chairman Ben Bernanke Predicts Moderate Economic Recovery to Continue

Shrugging off investors’ fears of a double-dip recession and punishing deflation, Federal Reserve Chairman Ben Bernanke predicted that a moderate U.S. economic expansion is likely to continue despite numerous threats to growth.

Testifying before the Senate Banking Committee, Bernanke acknowledged that European debt problems are slowing U.S. growth, as is the protracted slump in the U.S. housing sector. He said mounting federal budget deficits must be addressed, but added that government spending is warranted given the lack of private-sector demand for goods and services.

Read More: http://bit.ly/aPW1Xy