The Conservative Cave
Current Events => Economics => Topic started by: Chris_ on August 12, 2009, 08:01:10 AM
-
Report: Economists Say Recession Over, Want Bernanke to Stay
Is the recession over? Economists polled by the Wall Street Journal say yes, and they suggest that's a big reason why Federal Reserve Chairman Ben Bernanke should stay.
The Journal reports that the experts are overwhelmingly in favor of President Obama asking Bernanke to stay on for another four-year term when his current term ends Jan. 31. Bernanke has been a key figure in the government's efforts to reverse the country's economic meltdown, a role that has earned him some criticism but also praise for handling of the crisis.
Economists date the start of the recession to December 2007 -- defining much of Bernanke's term, which started in early 2006 -- and a majority agree that the recession is coming to an end.
Bernanke "deserves a lot of credit for stabilizing the financial markets," Joseph Carson of AllianceBernstein told the Journal.
Obama said last week that the "worst may be behind us," and the Labor Department on Tuesday seemed to bolster that notion, reporting that productivity surged in the spring by the largest amount in almost six years while labor costs plunged at the fastest pace in nine years.
*snip*
Many economists believe the current recession is on the verge of ending.....
"many"??? How many is that? Is it even a majority of those polled? Is it a lot? :whatever:
"experts" are always right, right? :whatever: :whatever: :whatever: :whatever: :whatever:
MORE (http://www.foxnews.com/politics/2009/08/11/report-economists-say-recession-want-bernanke-stay/)
-
What about continuing unemployment? Economists in general tend to look no farther than Wall Street.