Bernanke’s Positive Outlook
Bernanke is trying to paint a rosy picture of our economy again:
Bernanke: Financial turmoil in markets easing
WASHINGTON (AP) — Turmoil in financial markets has eased somewhat, but the situation is still “far from normal,” Federal Reserve Chairman Ben Bernanke said Tuesday. [...]
Those efforts appear to be paying off and “have contributed to some improvement in financing markets,” the Fed chief said in prepared remarks delivered via satellite to a financial markets conference sponsored by the Federal Reserve Bank of Atlanta in Sea Island, Ga.
I suppose he thinks none of us can read:
Retail sales dip for second time in 2 months
WASHINGTON (AP) — Consumers, battling soaring gasoline prices and a slumping economy, cut back further on their spending in April.
The Commerce Department reported Tuesday that retail sales dipped 0.2 percent last month, right in line with economists’ expectations.
It was the second drop in the past three months and was led by a 2.8 percent decline in auto sales, the biggest setback in this category in 10 months. It reflected the problems that automakers are having as a weak economy and soaring gasoline prices cut into demand for new cars.
