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NEW YORK (CNNMoney.com) — Federal Reserve Chairman Ben Bernanke told lawmakers Tuesday that the economy has started to show signs of stabilization, although he cautioned that improvement is uncertain and likely to be gradual going forward.
The head of the central bank, appearing before the House Financial Services Committee in his semi-annual testimony on the state of the economy, forecast a relatively sluggish recovery.
Bernanke said the unemployment rate would remain higher than preferred levels until at least 2012. But he added that steps taken by the Fed to pump money into the economy have started to pay benefits.
Categories: Business
Tags: Ben, Bernanke, chairman, economy, federal, gradual, higher, Improvement, Reserve, signs, stabilization, uncertain, unemployment
Tags: Ben, Bernanke, chairman, economy, federal, gradual, higher, Improvement, Reserve, signs, stabilization, uncertain, unemployment
