RISMEDIA, March 17, 2009-In a rare interview with Ben Bernanke this past Sunday on CBS News’ 60 Minutes, the Fed Chairman said he sees the recession ending by the end of this year. When asked by 60 Minutes Corresponded Scott Pelley, “”Mr. Chairman, I’m gonna start with a question that everyone wants me to ask: when does this end?” Bernanke said:
“It depends a lot on the financial system,” he replied. “The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis. We’ve seen some progress in the financial markets, absolutely. But until we get that stabilized and working normally, we’re not gonna see recovery. But we do have a plan. We’re working on it. And I do think that we will get it stabilized, and we’ll see the recession coming to an end probably this year. We’ll see recovery beginning next year. And it will pick up steam over time.”
If you missed the report, click here to watch the interview.
Copyright© 2016 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com