Fed Chairman Bernanke views on the economy
Fed Chairman Ben Bernanke discusses pressing economic issues, including unemployment, the deficit and the Fed’s controversial $600 billion U.S. Treasury Bill purchase. Scott Pelley of 60 Miniutes reports:
My favorite quote from Bernanke was when he spoke about the likelyhood of a double-dip recession:
“doesn’t seem likely,” Bernanke said, because some of the most cyclical parts of the economy, such as housing, “can’t get much weaker” than they already are.
Really? I didn’t know that.
If that interview was meant to build confidence, in my estimation he failed miserably.