Bernanke says economy could shrink in first half of year

"Federal Reserve Chairman Ben Bernanke, in his most pessimistic and blunt assessment to date, said Wednesday that a 'recession is possible' for the U.S. economy.

Bernanke, speaking before a congressional committee, said he wasn't yet prepared to declare that the economy has fallen into a recession. Instead, he said that he believed the economy is still 'slightly growing at the moment.' But he added that he believed it is possible that the economy could shrink over the first half of this year."

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Bernanke says economy could shrink in first half of year