Ben Bernanke: Recession Coming To An End

Today, Federal Reserve Chair Ben Bernanke reported to Congress regarding the economy. He signaled that he thinks that recession is coming to an end. While the economy hasn't quite bottomed out, Bernanke insists, it should soon.

After the economy bottoms out, it will be time for recovery to begin. Indeed Bernanke thinks that economic activity should start to pick up by the end of the year. He points to evidence that the contraction of the economy -- while not stopped -- is possibly slowing. 

Positive economic data, such as increased comsumer spending and a rise in pending home sales, are providing a backdrop for Bernanke's cautiously optimistic tone. He also feels that the tax cuts put into place through the economic stimulus bill will have a positive effect in raising consumer confidence and ultimately leading toward economic recovery.