Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Bernanke cites tentative signs that decline is slowing
WASHINGTON (4/15/09)—In a speech that primarily addressed aspects of the country’s current financial struggles, Federal Reserve Board Chairman Ben Bernanke also declared that he is “fundamentally optimistic” about the economy. Bernanke, addressing students and faculty at Morehouse College, Atlanta, acknowledged that the current crisis has been “one of the most difficult financial and economic episodes in modern history.” However, in his conclusion he noted recent, “tentative” signs that the sharp drop in economic activity may be slowing. He cited recent data on home sales, homebuilding, and consumer spending, as indicative of a leveling out of economic activity marking “the first step toward recovery.” “To be sure, we will not have a sustainable recovery without a stabilization of our financial system and credit markets. We are making progress on that front as well, and the Federal Reserve is committed to working to restore financial stability as a necessary step toward full economic recovery,” he stated. He added, “I am fundamentally optimistic about our economy.” Use the resource link below to access the Fed chairman’s speech.
Other Resources

RSS





print
News Now LiveWire
#NewsNow: @CUNA-CFA survey results suggest 3-3.5% increase in holiday spending. http://t.co/GjcDvvwfzy
16 hours ago
.@WOCCU promoted financial inclusion as a sustainable development goal at two separate @UN events this month.
17 hours ago
Colo. authorities OK first-ever #marijuana-focused CU #NewsNow http://t.co/77qj6O3bcu
17 hours ago
.@Vancity busts some Black Friday retail myths http://t.co/q8Wht3CcRc
17 hours ago
Things get hairy at #creditunions during #Movember http://t.co/Hc6tYRMSY8
19 hours ago