. >> thearkets welcomed today's bernan bernank, but you say pols shouldt matter to investors. what dyou think? >> people fosed onwashington, woied about things, debates and uncertainty, and ey're missing the stock maet. in terms othe fed chrman, he willnherited quite a crisis a year ago, d i thought he handled it very well. so i think thmarket likes stability and we're fine with this reappointment. >> paul: politic is fine with investing? >> yes. people are debating issues that might haveonsequences three, four yea from now. th market dsn't look out that far. >> paul: s months or so. >>efinitely. >> pau what are you seeing in the markets right now? >> broad markes up 53% fr itlow in march. we think it's a seible rally. a ry typical econoc recovery anticipation rally. >> paul: but overdone? >> no when it started we saw stks as 45%elow fair value. we still see the as 10% below ir value. we think this can ntinue. >> pl: other bullish factors? >> corrate bond yields are dropping. that's not talked about ry mu, but one of the best rallies in corporate bonds we'll ever see is underw

bernan said financial firms fa "significant losse" businesses and nsumers are experiencing difficulty in tting credit, the economic recovery wille "relatively slow," a he expecta gradual recovery in unemployment. bernanke defended the acons tan by the fed during the financial cris, saying they avted an "imminent collapse" of the financial stem. joining us n with more analys, robert mcteer, former prident of the federal reserve bank of daas and currently distinguished fellow athe national center for policy analysis. nice to see yoon the program agn. >> thank you, susie, good to be with you. >> susie: is ben bernanke right about the economic outlook? >> well, i hope so. and probay. i ink there's a go chance we'll get positive g.p. number for the current quarter, primarily, though,ecause of inventory rebounds and thcash for clunrs. i'm not real confident that tha can be sustaid. i think the consumeras real headwinds that hs facing, and if he's going to be doing any saving ithe future, consumption'going to be weak r? time. so if we start a recovery, i think 's going to be a weak recovery, and it cld be a false srt. >> susieare you saying that you do t agree with bernanke's assessment that the u.s. economy