"U.S. Recession to End This Year"

Ben Bernanke, the head of the US central bank, said in a TV program, that he expects America's recession to end this year. How far his estimates turn out true remains to be seen. His remarks are being seen as helpful in curbing the worldwide pessimism to creep still deeper.

Bernanke expects the recovery to begin next year. According to Bernanke, the government fund of $500bn is stabilizing the mortgage market and business lending is picking up.

Noticeably, Mr. Bernanke had previously said in January that he believed that the recession that took hold at the end of 2007 would end this year.

At the interview, Bernanke cited that lack of political will to solve problems could well be the biggest risk to recovery from the global economic crisis.

The remarks do sound unusual. Bernanke said that this was an extraordinary time, adding that the world came close to financial meltdown.I think the comments are critically timed with the G-20 Summit due next month. The meeting is being seen as very vital in averting a 1930s like scenario.

The US employment rate had risen to 8.1% in February last month.