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Ben Bernanke

NEW YORK (CNNMoney) — Federal Reserve Chairman Ben Bernanke headed to Capitol Hill Wednesday to give Congress his semi-annual report on the economy, and what he had to say wasn’t exactly rosy.

The job market remains “far from normal,” household income is flat and access to credit remains too tight for many people, he said. Meanwhile, rising gas prices are likely to reduce consumer buying power and the housing market remains a drag.

Thanks to President Obama’s economic policies, happy days are here again!

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WASHINGTON (CNNMoney) — Federal Reserve Board Chairman Ben Bernanke told Republican senators on Capitol Hill on Wednesday that he’s concerned about European sovereign debt problems spilling over to the U.S. economy, according to senators.

Read more at CNNMoney.

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Federal Reserve Chairman Ben Bernanke says the U.S. can’t fully recover from the worst recession in decades until hiring improves. Bernanke says the economy is strengthening, and will likely grow at a faster pace this year as more confident consumers and companies spend more, in prepared remarks to the National Press Club. [more…]

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