White House Budget director: signs of a free fall in the economy

Beijing time May 18 morning news, according to foreign media reports, the White House Management and Budget Office (OMB) director of Peter Orszag, said in Sunday, there are signs that the economic "free fall" drop has been concluded, "We can now see a little light, but not completely out of danger　　”。　　U.S. economic data has shown that the worst of the recession may be over, with the US CPI data flat in April and industrial output falling less than March in April.　　Ben Bernanke, the Fed's chairman, also said that the recession could end by the end of the year as long as the credit crunch is no longer present. Orszag said the budget deficit would fall rapidly as the economy began to recover. The White House recently expected the US budget deficit of $1.84 trillion trillion for the fiscal year ended September 30, accounting for 12.9% of GDP. (Ning String)