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Bernanke doesn’t expect U.S. double-dip recession

08 June 2010 13:30 (UTC +04:00)

Bakus - APA-Economics. Federal Reserve board chairman Ben Bernanke said Monday he didn’t think that the U.S. economy would slip back in to recession, saying that consumer spending and business investment seem strong enough to keep the economy growing, albeit at a relatively subdued rate, MarketWatch reported.

My best guess is we’ll have a continued recovery [but] it won’t feel terrific, he said.

Fears of a double-dip recession have multiplied in recent weeks. The weak May employment report released Friday, which showed just 41,000 private-sector jobs were created last month, was only the latest signal that the U.S. economy may be softening again.
Coming into 2010, the big question was whether the economy would "get its own legs" and not have to rely on government fiscal medicine and inventory behavior, Bernanke said.

So far the news is pretty good, Bernanke said.