The Honorable Ben Bernanke, Distinguished Fellow in Residence, Economic Studies at The Brookings Institution and former Chair of the Board of Governors of the Federal Reserve System, was the featured speaker at a luncheon meeting on February 10. Chairman Bernanke told Economic Club members that "The financial system and the economy have moved back from the brink of collapse,” citing the rebound of the housing market and the increase in consumer spending as evidence that the economy has “momentum". However, he also warned that the economy has “some way to go” before recovery becomes “self-sustaining.” In particular he warned that a weak labor market and tight credit are expected to slow the pace of expansion. A slowing Chinese economy and a strong dollar that negatively impacts international markets and exports also are limiting factors.
To view additional highlights and excerpts from the event, please click here.