March 16, 2009
Yesterday on “60 Minutes” Federal Reserve Chairman Ben Bernanke went out on a limb and predicted that the economy here in America will edge out of the current recession by the end of 2009 and begin to rebuild itself over the course of 2010. This was a pretty monumental statement because reserve chairmen rarely give interviews at all. So much rides on every word they say, it’s usually not a good idea to have a back-and-forth with a savvy interviewer.
Bernanke was wisely measured in his words and didn’t make any guarantees, but feels the plan is in place to right the ship and with the support of lawmakers and the American people, things will begin to shift toward a more “normal” state by the end of ‘09. He also offered a rare peek inside the headquarters of the Federal Reserve, an institution that’s still largely a mystery to most people.
All in all, it’s some pretty riveting television if you ask me. The world hangs on what the Fed chief says and perhaps Bernanke’s cautious vote of confidence will ease some fears and get things going in the right direction.
