August 2nd, 2010
11:57 AM ET
4 years ago

Bernanke sees 'moderate growth,' but a long road to recovery

 Federal Reserve chairman Ben Bernanke said Monday the U.S. economy has stabilized, but that complete economic recovery is a ‘considerable’ way off.
Federal Reserve chairman Ben Bernanke said Monday the U.S. economy has stabilized, but that complete economic recovery is a ‘considerable’ way off.

New York (CNNMoney.com) - Federal Reserve chairman Ben Bernanke said Monday the U.S. economy has stabilized, but that the nation has a long and bumpy ride ahead to a complete economic recovery.

Speaking to politicians attending the annual meeting of the Southern Legislative Conference in Charleston, S.C., Bernanke said the nation's economy is growing at a "moderate" pace, but has a "considerable way to go to achieve a full recovery."

The Fed chief also focused on the way that the downturn has taken a severe toll on state and local budgets, forcing them to make significant cuts that are in part to blame for the sluggishness of the national recovery.

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Filed under: Ben Bernanke • Economy • issues
soundoff (29 Responses)
  1. lolo

    Some of you people are just too blind. The rich are using the poor to keep the dollars in their pockets. Until we wake up we will continue to struggle.

    August 2, 2010 01:59 pm at 1:59 pm |
  2. Marcus

    Henry Miller, Libertarian – Let me correct your last phrase if you don't mind: where it reads 'The most dangerous common enemy the people of this country have right now is their own government' it should read 'the most dangerous common enemy the people of this country had until 2009 was their own government.'

    Stop with the far left nonsense. Do you had any idea of what far left economy driven really is? USSR and North Korea can tell you what it is, and to compare President Obama's policies to that is a proof that YOU should have your eyes checked.

    August 2, 2010 02:17 pm at 2:17 pm |
  3. Victim of GOP Taliban

    Let the Bush tax cuts that the wealthiest 2% of Americans expire. Stop profiteering in pre-emptive wars to make corporations that politicians ran prior to taking office a ton of $ – at taxpayer expense.

    Then maybe with a little luck...we should be back on track and eventually the tax revenues will close the budget gap.

    August 2, 2010 02:45 pm at 2:45 pm |
  4. MikeH

    No "Henry Miller Libertarian", the most dangerous common enemy to America is not the government, it is cabals of powerful corporate plutocrats undermining education, democracy, and unbiased news reporting, and using people like you (aka 'useful idiot') as a propaganda mouthpiece to spread lies.

    August 2, 2010 02:53 pm at 2:53 pm |
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