Fed Chief Bernanke Says U.S. Economic Growth Has Decelerated

It’s not all green shoots and bailouts – at least not for most Americans.

Video via All American Gold:

The US economy has continued to recover, but economic activity appears to have decelerated somewhat during the first half of this year.

…

After running at nearly 200,000 per month during the fourth and first quarters, the average increase in payroll employment shrank to 75,000 per month during the second quarter.

…

The recovery in the United States continues to be held back by a number of other headwinds including still tight borrowing conditions for some business and households… and the restraining effects of fiscal policy and fiscal uncertainty.

…

Although the housing market has shown improvement, the contribution of this sector is less than has been typical of previous recoveries.

…

The reduction in the unemployment rate seems likely to be frustratingly slow.