Bernanke said that the crisis in Europe will have a "minimal impact" on U.S.

The chairman of the Federal Reserve (Fed, for its acronym in English), Ben Bernanke, acknowledged that "current developments in the public deficit is unsustainable," but that this "exceptional growth"-close the year at 10.6% - has been necessary to overcome the worst recession the U.S. since the Great Depression. Furthermore, told reporters before participating in the Congressional Budget Committee, has said we are seeing a slight improvement in household consumption and, although recovery is slow and painful for many Americans, has been confident that the progress of domestic demand will be capable of replacing policies of encouragement as the motor of world power and the crisis in Europe will have a "minimal impact" on its economy.
The optimistic words of Bernanke have sat well with the international stock exchanges. In the case of Europe, the rally has left behind three consecutive days of losses, while the euro soared slightly and could be positioned above $ 1.20. The Wall Street closed with a 1.1% rise, Milan is up 2%, Frankfurt, 1.98%, Paris, another 1.96%, and London, 1.15%. As for the Ibex 35, the Spanish selective has regained its former tendency to move more than the rest up everything he touches, something not seen in weeks and ended up with a rebound of 2.3% thanks to last-minute boost parquet flooring have given the words of Fed chairman Thus, after scoring three consecutive 14-month minimum, tomorrow will open in 8868 points, but what really has not changed is that if you go down, it will be more strongly .

Already before the congressional committee, Bernanke has assured today that the U.S. central bank would continue taking the steps necessary to ensure financial stability and economic recovery as it has in coordinated action with ECB in the foreign exchange market to try to curb the worsening of the fiscal crisis of the euro. In fact, he added, the United States played part of his recovery across the Atlantic as "the recent fall" on the stock and the deterioration of the outlook in Europe for the crisis "minimal impact" on the economy their country. For this reason, is confident that U.S. GDP will grow at "a modest pace" this year.

Specifically, the Fed estimates that the U.S. economy will increase between 3.5% and 4% in 2010 and recorded a slight increase next year. A growth rate sufficient, even for a short, to ensure that the deteriorating labor market, which currently has an unemployment rate of 9.5% at end-April, will not continue.