'Marketplace' Report: Fed Chair Forecasts Economy
Wall Street is reeling from a falling dollar, soaring oil prices and mortgage losses. Marketplace's Jill Barshay says Federal Reserve Chairman Ben Bernanke painted a fairly optimist economic picture for lawmakers on Thursday.
Despite current turmoil, Bernanke told lawmakers the economy is humming along fine. Barshay says the Fed chairman expects a slow down toward the end of the year and at the beginning of next year, but the economy should improve after that. However, the weak dollar, ongoing subprime mortgage fall out and rising oil prices are a few of the issues that could stall the recovery.
Barshay talks to Madeleine Brand about Bernanke's Capitol Hill testimony.
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