In keeping with today’s theme, Fed chairman Ben Bernanke sounded a somewhat Rumsfeldian note in his report to Congress on the state of the economy this morning. “If actions taken by the administration, the Congress, and the Federal Reserve are successful in restoring some measure of financial stability — and only if that is the case, in my view — there is a reasonable prospect that the current recession will end in 2009 and that 2010 will be a year of recovery,” he said. [NYT, Clusterstock]
