The Great Recession

Unlike past recessions, the current downturn has affected over half of the American people. Americans are generally less optimistic about their futures and their childrens' futures, more concerned about pocketbook issues and worried about retirement security, according to a new survey by the Pew Research Center.

The economy will avoid a double-dip recession, but unemployment will remain high for some time, making for a very painful recovery for some, Federal Reserve Chairman Ben Bernanke said Monday.

After helping to avert worldwide financial catastrophe and staving off a full-blown depression, Federal Reserve Chairman Ben Bernanke has been named Time Magazine’s 2009 Person of the Year.