On Thursday, February 28, 2008, Ben Bernanke, Federal Reserve Chief, testified before Congress, predicting the economy will pull through tough times without a recession. “I do very much believe that the U.S. economy will return to a strong growth path with price stability,” Bernanke told the Senate Banking, Housing and Urban Affairs Committee. Although optimistic and positive there will be no recession, there were tell-tale signs that his face expressed signs to the contrary.
When Mr. Bernanke says “we expect moderate growth going forward and we believe that if the housing sector begins to stabilize” he showed a slight sign of disgust and anger.
There were slight signs of sadness and annoyance when Mr. Bernanke said “there could be some strengthening of the economy mid-year”.