Economists say recovery will take years

A Wall Street Journal survey of economists found while most think the recession will end in August, it will take years for the economy to fully recover. The depth of the recession, coupled with shifts in how much Americans save, will prolong the recovery. “This is a very deep and defining recession that is going to lead to a transformed U.S. economy, and these transformations don’t take place overnight,” says Paul Kasriel of the Northern Trust Corp. A majority of the economists say Fed Chairman Ben Bernanke has played a key role in stabilizing the economy. Bernanke’s moves mean President Barack Obama is likely to reappoint him when his job becomes open next year, the economists say. Click here to read the article. (Registration required)