Bernanke Warns of Slow Recovery

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.