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article imagePublic not as optimistic as Ben Bernanke

By Andrew Moran     Sep 17, 2009 in Business
On Tuesday, Federal Reserve Chairman Ben Bernanke declared that the United States recession is very likely over but the general population tend to differ.
A new CNN/Opinion Research Corporation survey released on Thursday shows that 86 per cent of Americans still think the country is in a recession. The specifics of the poll suggest that 42 per cent believe the country is in a serious recession, 35 per cent say it’s a moderate recession and 13 per cent think the economic collapse is over.
On Tuesday, according to the Associated Press, Fed Chairman Ben Bernanke was quite optimistic on his view of the nation’s recession by stating, “From a technical perspective, the recession is very likely over at this point.”
Respondents’ financial situation is not much better. Only 9 per cent say their financial situation is better now than it was one year ago, while 4 in 10 believe they’re worse off now and 50 per cent are remaining stagnant.
Bernanke also said that it will be a slow recovery because many Americans will still find it hard to have the same level of job security or status, “Unfortunately, unemployment will be slow to come down. It will come down but it may take some time. Obviously, that’s a very serious concern.”
In terms of the stock market, a higher number of Americans are hopeful; with 30 per cent saying the markets will be higher one year from now, while 18 per cent say it will be lower. 44 per cent also say their home values will be the same next year, 35 per cent think it will be higher and 22 per cent showing it will be lower.
The telephone survey was conducted among 1,010 respondents and contains a sampling error of +/- three percentage points.
More about Recession, Federal reserve, Ben bernanke
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