Fed Chairman Warns of Possible Recession

By Jenny Choi on April 2, 2008

Federal Reserve Chairman Ben Bernanke said in testimony before Congress today that a recession is possible and the gross domestic product is not likely to grow much, if at all, in the first half of 2008. Bernanke said economic growth was more likely in the second half of this year.

The public is not quite as optimistic, according to the latest poll numbers from Gallup, with more than half (55 percent) saying the economy won't recover for two or more years. And 79 percent say the U.S. economy will get worse before it starts to recover.

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