Bernanke Says Growth Will Resume Later This Year

Some optimistic words from Ben Bernanke:

“We continue to expect economic activity to bottom out, then to turn up later this year. Key elements of this forecast are our assessments that the housing market is beginning to stabilize and that the sharp inventory liquidation that has been in progress will slow over the next few quarters. Final demand should also be supported by fiscal and monetary stimulus.”

This should help the market. I suppose that Bernanke has joined the cheerleader team. Of course, the wild cards are Chrysler and GM, especially with their plant shutdowns.

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