Bernanke: Economic recession is "over"

16 September, 2009 16:03:00

Font size:

"I feel quite confident that a comprehensive reform will be forthcoming",  Bernanke said.

U.S. Federal Reserve Chairman Ben Bernanke said that the country's economic recession is very likely over at this point.

More and more data showed that the world largest economy is pulling out of the worst recession since the 1930s. Bernanke admitted that in responding to questions at the Washington based think-tank Brookings Institution.

The central bank chief also expressed his confidence that the Congress will enact a revamp of the nation's financial rule book to prevent future crisis from happening.

"I feel quite confident that a comprehensive reform will be forthcoming", Bernanke said.

In a speech delivered Monday in New York to rethink the one year anniversary of the collapse of Lehman Brothers, President Barack Obama urged the Congress to enact legislation this year.

U.S. Treasury Secretary Tim Geither also said recently that it is essential that the financial overhaul should be implemented to avoid future crisis.