Economy Get Blessing by the Fed

Dear Everyone,

Just wanted to add a quick note. Ben Bernanke, chairman of the Federal Reserve, told Congress today that troubles within the subprime mortgage industry did not appear to have far-reaching consequences. 

"The impact on the broader economy and financial markets of the problems in the subprime markets seem to be contained," Bernanke read from a written statement before the Joint Economic Committee.

He was not as definitive when addressing the housing market, saying that the prospects for the housing market "remain uncertain." Yet, he believes the economy will grow this year and that inflation will decrease in the coming months.

Some good news to start your day.

Elaine