Economic improvements in the last couple of days have analysts wondering how this will affect interest rates. Federal Reserve Chairman Ben Bernanke insists it’s too soon to tell whether the recovery will last.
"We still have some way to go before we can be assured that the recovery will be self sustaining," he said before the Economic Club of Washington.
“Formidable headwinds,” remain for out nation leading Bernanke, including the weak job market and consumers not yet trusting in a recovery.
Such obstacles will temper the pace of the expansion according to the chairman who predicts “modest” economic growth for the approaching year. The unemployment rate is likely to continue dropping but it will be at a pace slower than America might like.
To help things along, the Fed has kept the interest rates at nearly zero for close to a year to help encourage individuals add businesses to spend more freely.
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