Mixed news on economy from feds

Federal Reserve Chairman Ben Bernanke told Congress that "the U.S. economy should pull out of a recession and start growing again later this year."

But in testimony to Congress's Joint Economic Committee, Bernanke warned that "even after a recovery gets under way, economic activity is likely to be subpar. That means businesses will stay cautious about hiring, driving up the nation's unemployment rate and causing further sizable job losses in the coming months.

That "good" news is consistent with upgrading the diagnosis from hopeless to critical. Hospitals will keep adding more beds; and the federal reserve will be buying more buckets.

Tony Savino

Elk Grove Village