Seeking Alpha
04-03-2008, 09:11 AM
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<li><strong><a href="http://www.nypost.com/seven/04032008/business/bernanke__recession_is_now_possible_104848.htm">BeRnanke.</a></strong> The Fed Chairman gave his most pessimistic assessment of the U.S. economy to date yesterday, using the R word. "Recession is possible," Bernanke <a href="http://www.federalreserve.gov/newsevents/testimony/bernanke20080402a.htm">told</a> the Congress's Joint Economic Committee. "Our estimates are that we are slightly growing at the moment, but we think that there's a chance that for the first half, as a whole, there might be a slight contraction." While he remains optimistic growth will pick up in the second half as rate cuts and emergency measures thaw frozen debt markets, Bernanke conceded he has no elixir that can instantly ease the current financial crisis. "You mean to tell us you don't have answers?" Senator Ted Kennedy (D-Mass.) asked. "No, sir." <strong><a href="http://blogs.wsj.com/economics/2008/04/02/economists-react-looking-for-clues-on-interest-rates/?mod=WSJBlog">Economists applauded</a></strong> Bernanke's frankness; some noted his remarks signalled the possibility of further rate cuts.</li>
complete article here... (http://seekingalpha.com/article/71062-wall-street-breakfast-must-know-news?source=feed)
<ul>
<li><strong><a href="http://www.nypost.com/seven/04032008/business/bernanke__recession_is_now_possible_104848.htm">BeRnanke.</a></strong> The Fed Chairman gave his most pessimistic assessment of the U.S. economy to date yesterday, using the R word. "Recession is possible," Bernanke <a href="http://www.federalreserve.gov/newsevents/testimony/bernanke20080402a.htm">told</a> the Congress's Joint Economic Committee. "Our estimates are that we are slightly growing at the moment, but we think that there's a chance that for the first half, as a whole, there might be a slight contraction." While he remains optimistic growth will pick up in the second half as rate cuts and emergency measures thaw frozen debt markets, Bernanke conceded he has no elixir that can instantly ease the current financial crisis. "You mean to tell us you don't have answers?" Senator Ted Kennedy (D-Mass.) asked. "No, sir." <strong><a href="http://blogs.wsj.com/economics/2008/04/02/economists-react-looking-for-clues-on-interest-rates/?mod=WSJBlog">Economists applauded</a></strong> Bernanke's frankness; some noted his remarks signalled the possibility of further rate cuts.</li>
complete article here... (http://seekingalpha.com/article/71062-wall-street-breakfast-must-know-news?source=feed)