Upbeat Bernanke sees no US double-dip

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 unemp...