Recession May End This Year – Bernanke
US Federal Reserve Chairman Ben Bernanke told the Senate Banking Committee that the economy will continue to contract for the first half of 2009 but there is a “reasonable prospect” that the recession will end this year. More
US Consumer Confidence Hits All-Time Low
The US Consumer Confidence Index fell to an index reading of 25 – a dramatic fall from January’s 37.4 – and the lowest reading since data was first collected for the index in 1967. More
Bernanke Denies Stress Testing is Prelude to Bank Nationalization
“I donÃ¢â‚¬â„¢t see any reason to destroy the franchise value or to create the huge legal uncertainties of trying to formally nationalize a bank when it just isnÃ¢â‚¬â„¢t necessary”, Bernanke told a Senate Banking Committee in New York today. More
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