WASHINGTON POST: The U.S. economy started the year with a burst of healthy activity, according to a Federal Reserve survey Wednesday that reported that the country’s factories and stores and even the troubled housing market appeared to be gaining momentum…
But, as Bernanke testified, there is a long list of factors that might knock off course what he called an “uneven and modest” recovery. State and local governments are continuing to lay off workers , many borrowers are having trouble getting loans, and the housing market remains distressed. And if that were not enough, the recent spike in gasoline prices is likely to eat away at workers’ salaries.
“Continued improvement in the job market is likely to require stronger growth,” Bernanke said… (more)
