Economic Outlook

I went to hear Bernanke speak to the Joint Economic Committee today. He's projecting moderate to low growth in the near future despite oil prices, the weak dollar, falling housing prices, and the credit crunch. I wouldn't say there were any startling revelations but it is quite a spectacle to watch Schumer question Bernanke and realize that neither of them quite knows where the economy is going. As Bernanke said, "economists are notoriously bad at predicting turning points."