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June 8, 2011

Bernanke: U.S. Economic Recovery "Slower Than Expected" 
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Federal Reserve Chair Ben Bernanke is warning U.S. economic recovery is
advancing at a glacial pace with a full turnaround still years away.
Bernanke spoke to a conference of bankers Tuesday night in Atlanta.

Federal Reserve chair Ben Bernanke: "U.S. economic growth so far this
year looks to have been somewhat slower than expected. Aggregate output
increased at only 1.8 percent at an annual rate in the first quarter,
and supply chain disruptions associated with the earthquake and tsunami
in Japan are hampering economic activity this quarter. A number of
indicators also suggest some loss of momentum in the labor market in
recent weeks."

Bernanke's comments follow last week's figures showing the United States
added only 54,000 jobs last month, the fewest since last September. The
nation’s official unemployment rate also increased to 9.1 percent, up
from 9 percent in April.



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