Federal Reserve Chairman Ben Bernanke is sleeping better now than he did a year ago, but says the economy still has “a long way to go.”
“Things are … moving in the right direction,” he said in an interview with Diane Sawyer that will air Tuesday night on ABC “World News.” “So yeah, I’m sleeping a little better. But again, I think it’s really important not to be complacent. … We have a long way to go.”
While recent economic developments, especially in the labor market, have indicated that the recovery could be gaining steam, Bernanke hit a cautious note, saying it was too soon to declare the recovery has taken permanent hold.
“It’s far too early to declare victory,” he said.
“We need to be cautious and make sure this is sustainable,” he added. “We haven’t quite yet got to the point where we can be completely confident that we’re on a track to full recovery.”