“Financial markets remain under considerable stress,” Mr. Bernanke
said, in remarks prepared for delivery Wednesday morning to the Joint
Economic Committee. “The capacity and willingness of some large
institutions to extend new credit remains limited.”
Other points he is making about the months to come and the economic struggles to be faced include:
- Shrinking payrolls.
- Higher unemployment.
- Concerns over the rate of inflation.
These are all things that could potentially affect your personal finances. Do yourself a favor and prepare. We may not “officially” be in a recession, and perhaps we will avoid it, but it is still a good idea to prepare your personal finances and live frugally and sensibly.