A Look into the Economic Crystal Ball

Yesterday, Federal Reserve Chairman, Ben Bernanke began two days of testimony before Congress on the state of the economy. He said, ?The U.S. economy contracted sharply in the fourth quarter of last year and the first quarter of this year. More recently, the pace of decline appears to have slowed significantly.” Bernanke said there were “tentative signs” of recovery. So is the recession over? And if so, when will there be more jobs? The Takeaway is joined by Lakshman Achuthan, managing director of the Economic Cycle Research Institute, a company that forecasts recessions and recoveries.