Watching this testimony live, without benefit of transcript, Bernanke incredibly is saying there will NOT be a recession! Forecasting slower growth picking up in late 2008. Some decent questions from Congresspeople re: why would a rebate actually improve economy? Shift from pro-savings economy to pro-debt, etc.
Why is Bernanke talking so optimistically (yet looking terrible)?
What will Congress do on fiscal side?
Will Bernanke lower rates on 1/30 and if so why?