Bernanke positive on economy
The U.S. economy “appears likely” to expand at a moderate rate, close to or modestly below the economy’s long-run sustainable pace, says Federal Reserve Chairman Ben Bernanke in remarks Tuesday before a meeting of the National Italian American Foundation in New York City.“Inflation, which picked up earlier this year, has been somewhat better behaved of late,” he says.
Mr. Bernanke says core inflation is expected to slow gradually from its recent level, “reflecting the reduced impetus from high prices of energy and other commodities, contained inflation expectations, and perhaps further reductions in the rate of increase of shelter costs and some easing in the pressures on capital and labor resources.”
Good news.
