"Tentative Signs of Stabilization"

Ben Bernanke is testifying today on Capitol Hill. The Fed has already posted his written remarks here. In it, Bernanke says: “More recently, the pace of decline appears to have slowed significantly, and final demand and production have shown tentative signs of stabilization.”

That’s not exactly a ray of sunshine, but it is different from what Bernanke has said earlier. Traders seem somewhat pleased as the market is up slightly.

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