Bernanke:Asia Leads Recovery But Rebalancing Needed

Asian countries appear to be leading a world economic recovery, but they must now focus on getting consumers to spend while U.S. consumers should boost their savings, Federal Reserve Chairman Ben Bernanke said Monday.

Recent data suggest that a strong rebound is under way in Asia, after the region expanded at an "impressive" 9% annual rate in the second quarter, Bernanke told an Asia economics conference in Santa Barbara.

"At this point, while risks to the economic outlook certainly remain, Asia appears to be leading the global recovery," the Fed chairman said.

Read Full Article from Wall Street Journal

- Posted: 2009-10-19 13:48:11

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