The U.S. economy has started to show signs of stabilizing, says Federal Reserve Chairmain Ben Bernanke.
He spoke to lawmakers about the Fed’s plan to avoid inflation with several lending programs that will encourage banks to start lending more. However, he was quick to note that this “stabilization” is far from economic improvement, and that recovery will be slow—the labor market will likely suffer until 2012.
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CNNMoney: Bernanke: Economy Better, But ...
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