WASHINGTON - Federal Reserve Chairman Ben Bernanke told Congress on Wednesday he doesn't believe the economy will slip into a recession and rejected the notion raised by his predecessor, Alan Greenspan, that the economic expansion, which started in late 2001, could be running out of steam.
"I would make a point, there seems to be a sense that expansions die of old age. ...I don't think the evidence supports that," Bernanke said in testimony to Congress' Joint Economic Committee.
Bernanke also explained that last week's change in the Federal Reserve's policy statement, which hints of future rate moves, was done to achieve more leeway. "We are looking for a bit more …
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