Friday, 14 January 2011 15:49 The Daily Bell
Bernanke: Expect 3 to 4% growth in U.S. economy in 2011 ... ABC News' Arlette Saenz reports: Fed Chairman Ben Bernanke said the economy will see a three to four percent growth in 2011, but it will not hasten the reduction in unemployment. "We see the economy strengthening. It's looked better in the past few months," Bernanke said. "We think a 3 to 4 percent growth number for 2011 seems reasonable ... That's not going to reduce unemployment at the pace that we'd like it to, but certainly, it'd be good to see the economy growing and that means more sales, more business."
Bernanke's comments came at a small business forum where he discussed topics ranging from the availability of credit to small businesses to the need for prudent banking. "We got in trouble in the first place by making too many bad loans, right. So you've got to make good loans. We've got to have credit worthy borrowers." – ABC
Dominant Social Theme: Things are getting much better.
Free-Market Analysis: Very interesting. The economy will grow by three to four percent in 2011, according to Federal Reserve Chairman Ben Bernanke, but unemployment will remain. Meanwhile, according to Bernanke, the horrid spectre of deflation has been averted for the moment. Finally, banks are getting back to basics and making "prudent loans," instead of rash ones that led to the "trouble" of 2008. Really folks, what's this man smoking?
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