Thursday, October 16, 2008
and the far east markets were listening.
Washington - The country's economic health won't snap back quickly even if badly needed confidence in the U.S. financial system returns and roiled markets finally calm, Federal Reserve Chairman Ben Bernanke cautioned Wednesday. Comment: No doubt. Especially if they keep reminding the markets that the situation is painful and long-lasting. "Stabilization of the financial markets is a critical first step, but even if they stabilize as we hope they will, broader economic recovery will not happen right away," "I am not suggesting the way forward will be easy." "credit markets will take some time to unfreeze," and the far east markets were listening.