Bernanke says the U.S. economy is stablizing and will begin to rebound later this year--however, he continues to say that he recovery will be slow and cautious.
Furthermore, it appears that HOUSING and consumer spending are showing signs of life! That is certainly true in South Florida.
It's not a surprise that unemployment will still be worrisome and credit may remain tight for some time. We can only hope the banks get moving and get organized! Bernanke has substantial concerns about the banking industry. (I think most realtors do also, especially if you are dealing with short sales and foreclosures!)
He also believes that inflation will remain subdued for the time being--but we may need to look OUT down the road.
You can read the entire article below:
http://money.cnn.com/2009/05/05/news/economy/bernanke_jec/index.htm?postversion=2009050510
Amanda Wilson, Realtor--Fort Lauderdale, Florida
THE ECONOMY IS REALLY GETTING BETTER!
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