Thursday, April 24th5.9°C
20923
20950

Bernanke notes "bad luck" timing of Europe's debt crisis a reason for subpar US recovery

WASHINGTON - Federal Reserve Chairman Ben Bernanke says the U.S. economy's slow recovery from the Great Recession has been subpar for several reasons, including the extensive damage from the housing bust and tight budgets at all levels of government.

But he also blamed the anemic pace of the recovery on "some bad luck," saying Europe's debt troubles slowed the global economy at a critical time.

"Given all the things we have faced, it is not shocking that the recovery has been tepid," he said during a news conference after the Fed's two-day policy meeting.

He said the United States has still done better than many other countries.

Bernanke made the comments after the Fed announced it would begin to reduce its bond purchases by $10 billion in January, signalling a stronger economy.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14533.39-22.58
S&P CDNX1010.986.10
DJIA16501.65-12.72
Nasdaq4126.967-34.491
S&P 5001875.39-4.16
CDN Dollar0.9069+0.0005
Gold1283.70-0.50
Oil102.15-2.22
Lumber332.60+1.00
Natural Gas4.761+0.031

 
Okanagan Companies
Pacific Safety0.115+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.22+0.01
Cantex0.05+0.005
Anavex Life Sciences0.38-0.005
Metalex Ventures0.080.00
Russel Metals31.30+0.13
Copper Mountain Mining2.33-0.05
Colorado Resources0.27+0.01
ReliaBrand Inc0.11+0.03
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.250.00

 



21673

FEATURED Property
177932613019 Porter Drive
4 bedrooms 3 baths
$524,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


On living and dying

Our ability to live beyond our years has nothing to do with medical science; we will all live longer than our physical bodies, each of us will leave behind a personal legacy made up of our deeds, our ...


Learning to flirt with the edge

With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...


Time spent prospecting

How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...

_





21368


Member of BC Press Council


20728