From Bloomberg:
Bernanke Says Risk of `Substantial Downturn' Receded Federal Reserve Chairman Ben S. Bernanke said the economic outlook has improved from a month ago, and central bankers will ``strongly resist'' any waning of public confidence in stable prices.
``The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so,'' Bernanke said today in remarks to a Boston Fed conference in Massachusetts. ``The Federal Open Market Committee will strongly resist an erosion of longer-term inflation expectations.''
Here is Bernanke's speech:
Outstanding Issues in the Analysis of Inflation