Bernanke says recession 'very likely over'

[brentspeak]

Source: AP

Bernanke says recession 'very likely over'

By JEANNINE AVERSA (AP) – 20 minutes ago

WASHINGTON — Federal Reserve Chairman Ben Bernanke said Tuesday that the worst recession since the 1930s is probably over.

Bernanke said the economy likely is growing now, but it won't be sufficient to prevent the unemployment rate, now at a 26-year high of 9.7 percent, from rising.

"The recession is very likely over at this point," Bernanke said in responding to questions at the Brookings Institution.

The Fed boss also said he is confident that Congress will enact a revamp of the nation's financial rule book to prevent a future crisis from happening.

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