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Bernanke: Recovery Could Happen Next Year

WASHINGTON, DC-Federal Reserve Chairman Ben Bernanke sees the market hitting bottom this year and recovery taking place in 2010.

By The New York Times | Updated on March 16, 2009

WASHINGTON, DC-Federal Reserve Chairman Ben Bernanke told the nation on CBS’ “60 Minutes” last night that a recovery from the recession could take place next year as the financial markets bottom out in 2009. That turnaround is contingent upon support from lawmakers and the public, he said.

“If we do succeed in stabilizing the financial system, that we’ll begin to see a slower pace of decline, and eventually, a stabilization that will set the basis for arecovery,” Bernanke said.

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