Bernanke Warns of Slow Recovery

    FILE - In this Jan. 7, 2012 file photo, Federal Reserve Board Chairman Ben Bernanke testifies on Capitol Hill in Washington, before the Senate Budget Committee. Ben Bernanke is likely to face pressure this week over the Federal Reserve's plan to hold interest rates near zero until late 2014. (AP Photo/Alex Brandon, File)

    Alex Brandon / AP Photos

    You can’t rush a good thing. Addressing the House Financial Services Committee Wednesday, Federal Reserve chairman Ben Bernanke advocated cautious optimism in response to recent reports that unemployment is coming down, saying that the economy’s full recovery will take years. With unemployment standing at 8.3 percent, Bernanke said that the unemployment rate will likely “edge down only slowly” over the next few years. Prospective home buyers, he said, are still reluctant to purchase a house because they feel there are few guarantees regarding their future income.

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