12:22 pm September 15, 2009, by Henry Unger
Do you think the recession has ended?
Fed Chairman Ben Bernanke said today that he thinks the ” recession is very ikely over at this point,” the Wall Street Journal reports.
But Bernanke added that it’s still going to feel like a very weak economy because credit conditions remain tight and a decline in the unemployment rate will probably only happen gradually, the WSJ wrote.
If that’s the case, is the recession really over?
Technically, economists expect the gross domestic product to expand by about 3 percent this quarter, which would halt the slide. But if unemployment continues to rise, as it is likely to do, should we be defining the recession in such narrow terms?
What do you think?
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