Despite his statement this morning that business growth will likely slow in the months ahead, Federal Reserve Chairman Ben Bernanke also provided a glimmer of hope for the U.S. economy.

In case you missed it, Bernanke commented that the Fed believes that our economy should "rebound from current problems by the second half of 2008".

This somewhat positive sentiment, coupled with Bernanke's statement that he and his colleagues are putting together a proposal that will create a new set of regulations for those issuing mortgages and sub-prime loans to those with less than stellar credit histories, provides hope that a prolonged recession is not upon us.

http://biz.yahoo.com/ap/071108/bernanke_economy.html

Labels: Bernanke, Federal Reserve, SubPrime