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Bernanke: Recession (Technically) "Likely Over"
By
Jen Chung
Published Sep 15, 2009
Modified Sep 15, 2009
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By
Jen Chung
Published Sep 15, 2009
Modified Sep 15, 2009
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Federal Reserve Chairmand Ben Bernanke said that the recession is probably over but had a caveat: "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 because many people will still find that their job security and their employment status is not what they wish it was." He added in his remarks to the Brookings Institute, "Unfortunately, unemployment will be slow to come down. It will come down but it may take some time. Obviously, that's a very serious concern." Unemployment was 9.7% last month; it's expected to hit 10% by the end of the year.
Tagged
ben bernanke
economy
federal reserve
recession
Unemployment
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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