US economy is finally coming out of recession and one of the worst financial crisis since the economy meltdown. This was declared recently by Ben Bernanke, Chairman of Federal Reserve. Bernanke added that situation is improving in rest of the world too including US.
Bernanke stressed that despite much progress in stabilizing financial markets and trying to bust through credit clogs, consumers and businesses are still having trouble getting loans. The situation is not back to normal, he said. Restoring the free flow of credit is a critical component to a lasting recovery.
“Although we have avoided the worst, difficult challenges still lie ahead,” Bernanke told the gathering. “We must work together to build on the gains already made to secure a sustained economic recovery.” The remark made by Fed chief’s is crucial as it two years after the financial crisis broke out and about one year after it showed its effect across US.
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