Federal Reserve chairman Ben Bernanke believes the US recovery remains on track and world's largest economy should avoid a double-dip recession.
Speaking in Washington last night, an upbeat Bernanke said the country's rebound from the downturn "so far is pretty good".
"We will have a continued recovery," Bernanke explained.
The Fed chairman's comments come as nervous investors continued to sell-off US equities following last Friday's disappointing unemployment figures for May.
"There are some signs that the private sector is moving the economy forward," Bernanke said. "There seems to be a good momentum in consumer spending and investment."
However, Bernanke added unemployment would "stay high for some time". The US unemployment rate currently stands at 9.7%.
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