U.S. recovery from crisis far from complete: Bernanke

13:13, July 22, 2011      

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U.S. Federal Reserve Chairman Ben Bernanke (L Front) testifies before the Senate Banking, Housing and Urban Affairs Committee on Enhanced Oversight After the Financial Crisis: the Wall Street Reform Act at One Year, on Capitol Hill in Washington D.C., the United States, July 21, 2011. Recovery from the financial crisis still had a long way to go in spite of the economic growth, Bernanke said Thursday. (Xinhua/Zhang Jun)

Recovery from the financial crisis still had a long way to go in spite of the economic growth, U.S. Federal Reserve Chairman Ben Bernanke said Thursday.

"Nearly three years later, the recovery from the crisis in the United States and in many other countries remains far from complete," Bernanke said in a testimony to a Senate panel.

He said the financial crisis of 2008-2009 was unprecedented in its scope and severity, adding federal regulators would finalize some of the rules for the financial reform act during this summer.

The U.S. economy grew only 1.9 percent in the first quarter of this year and some economists worry it will keep the same pace for the second quarter. The unemployment rate rose to 9.2 percent in June.


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Source:Xinhua
 
 
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