Financial Soultions: Fed Reserve Chair says recession “very likely" over.

Sept. 15, 2009 - PRLog -- Ben Bernanke said recently that the worst U.S. recession since the Great Depression was in all likelihood over, but the recovery ahead would be slow and new job creation would take time, Financial Soultions has heard.

"Even though from a technical perspective the recession is very likely over at this point, it's still going to feel like a very weak economy for some time," Bernanke said after a speech earlier this week.

This is the boldest statement yet to come from the fed regarding the end of the recession, where Financial Soultions has seen their most recent evaluation as saying the economy was leveling off and that indications on growth had improved.

Bernanke did however warn that growth next year would possibly be not much faster than the economy's so-called long-run potential rate, which meant it would be slow to soak up excess capacity and pare the unemployment rate.

The Fed Chairman spoke on the one-year anniversary of the collapse of Lehman Brothers, which ignited a global panic that forced the Fed to cut interest rates to almost zero percent, as previously reported by Financial Soultions.

Bernanke acknowledged that a revival could turn out to be either stronger or weaker than analysts expect, but cautioned of ongoing agonies in the labor market under the growth rate.

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