Rates will rise in future

“Recovery won’t feel terrific” –Ben Bernanke

Federal Reserve Chairman Ben Bernanke said this Monday he expects a continuing economic recovery that it won’t fall back into a “double dip” recession.
“My best guess is we’ll have a continued recovery (but) it won’t feel terrific” he said in an interview at a forum.
Fears of a double-dip recession have grown in the past weeks with the Europe’s debt crisis, “but there seems to be a good bit of momentum in consumer spending and investment, so my best guess is that we’ll have a continued recovery”.

He also warned that the unemployment rate will be high for a while, meaning that “a lot of people are going to be under financial stress, and this is one of the reasons why it won’t be terrific. “
Bernanke was also questions when does the FED will start raising the interest rates, his answer was “in the future” but he added that the FED won’t be able to wait until the jobs market is fully recovered before it pushed rates up.
On the Wall Street reform topic, he said he was in favor of the senate version which gives regulators, including him the power to figure when a bank is at risk. “I think it could be made to work”, he added.