Federal Reserve Chairman Ben Bernanke on Friday gave his most upbeat economic outlook yet, saying the recession seems to be ending and a recovery should begin shortly.
"After contracting sharply over the past year, economic activity appears to be leveling out, both in the United States and abroad, and the prospects for a return to growth in the near-term appear good," Bernanke said at the Fed's annual conference in Jackson Hole, Wyoming.
Most economists expect the recession to end in the third quarter, with many saying it's already over. Many, however, expect unemployment — now at 9.4%— to peak above 10% early next year.
I'm not sure myself how much economic recovery we can expect when unemployment
is still projected to peak. I'm just glad to exit the Dooms Day Soap Box finally,
or am I speaking to soon?
-Christopher Rockey
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