Bernanke: Recession could end in 2009

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March 16, 2009 01:53

America's recession will "probably" end this year, if the government succeeds in bolstering the banking system, Federal Reserve Chairman Ben Bernanke said Sunday in a rare television interview. In carefully hedged remarks in a taped interview with CBS' 60 Minutes, Bernanke seemed to express a bit more optimism that this could be done. Still, Bernanke stressed - as he did to Congress last month - that the prospects for the recession ending this year and a recovery taking root next year hinge on a difficult task: getting banks to lend more freely again and getting the financial markets to work in a more normal fashion. "We've seen some progress in the financial markets, absolutely," Bernanke said. "But until we get that stabilized and working normally, we're not going to see recovery.


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