Bernanke Sees Slow, Continuing Recovery

Washington, DC, June 8, 2010--Federal Reserve Chairman Ben Bernanke said Monday he believes the recovery will be slow and that it won't fall into a double-dip recession.

"My best guess is we will have a continued recovery, but it won't feel terrific," Bernanke said.

He said unemployment will remain high for some time because economic growth won't be strong enough to quickly lower the unemployment rate.

The economy grew at a 3% pace in the first quarter of this year. That's good growth during normal times. But coming out of such a deep recession, the economy must grow much more strongly to make a dent in the jobless rate.

Bernanke didn't offer new clues about when the Fed would reverse course and start to tighten credit. However, he did say the Fed won't be able to wait until the jobs market is fully healed before it pushes rates up.