April 2, 2008
Federal Reserve Chairman Ben Bernanke on Wednesday publicly raised the prospect of a U.S. recession for the first time since the current slowdown began last year. But he also signaled that "much" of the needed economic and financial market adjustment has already taken place and that conditions should improve later this year, suggesting there may not be much need for additional monetary stimulus. The economy should improve later this year, Bernanke said, assuming stabilization in housing and credit markets and a boost in spending from the recently enacted fiscal stimulus package.
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May 2008
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