TraderWise

Fed Chairman Bernanke did not put forth a very convincing argument

First let’s look at the trend.
After an unusual four straight quarters of negative growth in the severe 2008-2009 recession, the recession ended in the September quarter of last year when GDP managed fragile growth of 1.6% for the quarter, and then improved to 5.0% growth in the December quarter.
It was understood that much of that growth was temporary, fueled by government spending, and spending by consumers provided with government bonuses and rebates, as well as temporary rebuilding of inventories by businesses.