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Bernanke said Global Economy Emerging from Recession08-25-09 | News

Bernanke said Global Economy Emerging from Recession

Federal Reserve Chairman Ben S. Bernanke spoke to an audience of central bankers and academics, warned that the world still confronts critical challenges. - Courtesy of Houston Chronicle

It will still take some time for the economic train to gain momentum. Federal Reserve Chairman Ben S. Bernanke said the global economy is beginning to emerge from recession after aggressive action by central banks and governments.

?EUR??,,????'??Economic activity appears to be leveling out, both in the United States and abroad, and the prospects for a return to growth in the near term appear good,?EUR??,,????'?? Bernanke said in a speech at the Kansas City Fed?EUR??,,????'???s annual symposium in Jackson Hole, Wyoming.

Bernanke?EUR??,,????'???s note of caution underscored the Fed?EUR??,,????'???s decision last week to leave interest rates near zero for an extended period and to delay by a month the scheduled end to its $300 billion program to buy U.S. Treasuries.

?EUR??,,????'??Strains persist in many financial markets across the globe, financial institutions face additional significant losses and many businesses and households continue to experience considerable difficulty gaining access to credit,?EUR??,,????'?? Bernanke said. ?EUR??,,????'??Recovery is likely to be relatively slow at first, with unemployment declining only gradually from high levels.?EUR??,,????'?? ?EUR??,,????'??? Courtesy of Bloomberg.com