Fed Chairman Says American Economy Is Poised to Grow

[one...two...tree 2,762]

JACKSON HOLE, Wyo. — Ben S. Bernanke, the chairman of the Federal Reserve, offered his most hopeful assessment in more than a year on Friday, asserting that “the prospects for a return to growth in the near term appear good.”

In a much-awaited speech here to central bankers and economists from around the world, Mr. Bernanke went beyond the Fed’s most recent assessment that the nation’s economy was “leveling out” and that the recession was ending.

Noting that short-term lending markets are functioning “more normally,” that corporate bond issuance is strong and that other “previously moribund” securitization markets are reviving, Mr. Bernanke said that both the United States and other major countries were poised for growth.

A surprising increase in sales of previously owned homes in July bolstered that view. A brokers’ group reported on Friday that existing home sales surged 7.2 percent last month as first-time buyers took advantage of an $8,000 tax credit, and other buyers were enticed by falling prices and low mortgage rates.

http://www.nytimes.com/2009/08/22/business...tml?_r=1&hp

[I AM NOT THAT GUY 5,715]

"the prospects for a return to growth in the near term appear good."

Translated: "It can't get any worse, and there is no where to go, but up from here."

Edited August 21, 2009 by Mister_Bill

[one...two...tree 2,762]

"the prospects for a return to growth in the near term appear good."

Translated: "The stimulus spending worked."

I couldn't agree with you more.

[Pinocchio Liberal 268]

Stimulus?

http://www.brillig.com/debt_clock/

[I AM NOT THAT GUY 5,715]

"the prospects for a return to growth in the near term appear good."

Translated: "The stimulus spending worked."

I couldn't agree with you more.

[one...two...tree 2,762]

I'd say you need a new pair of glasses there, Bill. The stimulus is working. As painful of a reality that is for Right Wingers, that's the fact jack. Take a look at France and Germany. The Left was correct on this one.

[I AM NOT THAT GUY 5,715]

I'd say you need a new pair of glasses there, Bill. The stimulus is working. As painful of a reality that is for Right Wingers, that's the fact jack. Take a look at France and Germany. The Left was correct on this one.

Oh my gosh! You are saying Bush did the right thing!!!!!

[one...two...tree 2,762]

I'd say you need a new pair of glasses there, Bill. The stimulus is working. As painful of a reality that is for Right Wingers, that's the fact jack. Take a look at France and Germany. The Left was correct on this one.

Oh my gosh! You are saying Bush did the right thing!!!!!

He did the right thing after doing so many wrong things...a day late and a dollar short.

[rebeccajo 14]

October is coming and everybody who is anybody on the financial stages is going to try and make noise that things are better.

They may be or they might not. But I don't put a lot of credence in things said between now and the end of October.

[Joseph & Ana 0]

The Spending bill did jack. Most of it wasn't injected into the economy. The only money put into the economy was the 140 billion dollar (remember the 600 dollar checks) one Bush did, and that was a joke as well. 140 billion dollars into a 14 trillion dollar economy does absolutely nothing to stimulate. Also, when the economy does finally recover, because its a cyclicle thing not controlled by politicians except for when they tax, the inflation due to all of the freshly printed trillion dollars will bring it back down again. THAT is what the experts are saying.

[dalegg 143]

I tell you what I sure hope it isn't poised to shrink!!

[Usui Takumi 1,562]

I bet that August will have been about 0% and September will post positive.

[Ban Hammer 13,369]

The Spending bill did jack. Most of it wasn't injected into the economy. The only money put into the economy was the 140 billion dollar (remember the 600 dollar checks) one Bush did, and that was a joke as well. 140 billion dollars into a 14 trillion dollar economy does absolutely nothing to stimulate. Also, when the economy does finally recover, because its a cyclicle thing not controlled by politicians except for when they tax, the inflation due to all of the freshly printed trillion dollars will bring it back down again. THAT is what the experts are saying.

well there is that one airport that did quite well with it.

[mawilson 2,133]

I'd say you need a new pair of glasses there, Bill. The stimulus is working. As painful of a reality that is for Right Wingers, that's the fact jack. Take a look at France and Germany. The Left was correct on this one.

Who knew that 70 billion dollars (10% of the stimulus money spent so far) could plug a 12 trillion hole in the economy.

[zqt3344 21]

SO TRUE! AHAAAAHAHHAHHA Obama Voter Remorse, I love how he always tries to blame someone else for his shortcomings!

"the prospects for a return to growth in the near term appear good."

Translated: "It can't get any worse, and there is no where to go, but up from here."