Bernanke Says Recession Is Over, Economy Still Sucks

Fed Chair Ben Bernanke declared Tuesday that the recession is “very likely over at this point,” but don’t get too excited. The non-investment bankers among us still have a lot to worry about: “[I]t is still going to feel like a very weak economy for some time as many people still find their job security and their employment status is not what they wish it was.”

What do you expect for a few trillion in bailouts and bad asset guarantees? Maybe these people are on to something (or maybe just on something).  —PS

Wall Street Journal:

The rebound, he added, would likely be so moderate it wouldn’t produce many jobs.

“Even though from a technical perspective the recession is very likely over at this point, it is still going to feel like a very weak economy for some time as many people still find their job security and their employment status is not what they wish it was,” he said.

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