Bernanke: Commercial real estate holding back U.S. recovery

11/17/2009 | Wall Street Journal, The

Federal Reserve Chairman Ben Bernanke warned in a somber assessment that the nation's economic recovery will gather strength slowly because of the "headwinds" provided by commercial real estate's deepening problems, feeble bank lending to businesses and persistent high unemployment. "Some important headwinds -- in particular constrained bank lending and a weak job market -- likely will prevent the expansion from being as robust as we would hope," he told a gathering of Wall Street executives, economists and traders.

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