In a statement before U.S. Senate Ben Bernanke said that the outlook for the US economy has worsened in recent months, and the downside risks to growth have increased. “To date, the largest economic effects of the financial turmoil appear to have been on the housing market”, he said. “Although the baseline outlook envisions an improving picture, it is important to recognize that downside risks to growth remain”, Bernanke continued.
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© US Treasury
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