WASHINGTON, Aug 21 (Reuters) – Following are highlights from U.S. Federal Reserve Chairman Ben Bernanke’s prepared speech to be delivered at the Kansas City Federal Reserve Bank’s conference in Jackson Hole, Wyoming.
BERNANKE ON CURRENT STATE OF ECONOMY
“After contracting sharply over the past year, economic activity appears to be leveling out, both in the United States and abroad, and the prospects for a return to growth in the near term appear good. … The economic recovery is likely to be relatively slow at first, with unemployment declining only gradually from high levels.”
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