Bernanke Forecasts "Modest Economic Growth" in 2010
Federal Reserve Chairman Ben Bernanke told the Economic Club of Washington on Monday that he expects "modest economic growth" in the coming year. According to Bernanke, the unemployment rate will continue to fall, though "at a slower pace than we would like."
Bernanke's cautious optimism is probably a safe bet if trends continue, but there are certainly a number of factors—the weak job market being a primary concern—that may hamper opportunities for improved growth in 2010.
For his part, Bernanke pledged to keep interest rates low, joking "they can't go much further down" from here. The Fed remains committed to providing economic support where they can, though Bernanke didn't elaborate on any future measures that might be taken to bolster struggling sectors of the economy.
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