Bernanke Sees ‘Formidable Headwinds’ for U.S. Economy By Craig Torres and Shobhana Chandra
Dec. 7 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said the U.S. economy faces “formidable headwinds,” including a weak labor market and tight credit that are likely to produce a “moderate” pace of expansion.
“The economy confronts some formidable headwinds that seem likely to keep the pace of expansion moderate,” Bernanke, 55, said today in a speech to the Economic Club of Washington. He said inflation remains “subdued” and might even move lower.