Federal Reserve Chairman Ben Bernanke expressed when the economy will gain traction in the U.S. today on the right track and the country must avoid falling deeper into recession.
“So far the economic recovery is quite good. We will have a sustained recovery,” Bernanke said when asked about the continuing economic downturn and slow and sweeping the United States since the end of 2007.
This optimistic tone of his comments come when investors are nervous about the prospects of recovery for unemployment.
This sentiment was also encouraged by May the disappointing unemployment figures quoted recently and indicate when the private sector continue to be wary of hiring workers.
“There are some signs that the private sector drives the economy. It seems there is a good momentum in consumer spending and investment,” said Bernanke.
However, Bernanke acknowledged when the unemployment rate will remain high for some time. As is known, the U.S. unemployment rate currently at 9.7 percent position.
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With the unemployment rate still at 9.3% in May I feel pretty worried. Also because my home state of Illinois is still close to 11. I’m cautiously optimistic The government can fix this fast enough to salvage their election hopes.