A number of positive trends support the Federal Reserve chief's statement that the recession has "very likely" ended.
President Obama delivers a major economic speech Monday to assess progress in the year since Lehman Brothers' collapse ignited a financial crisis.
Though problems remain for housing and jobs, the Fed's Open Market Committee sees further improvement in financial markets in recent weeks.
Job losses for July totaled 247,000 – the lowest level since August of last year.
The Fed chairman, who is all over the TV news shows this week, may be angling for reappointment in January.
A silver lining is the US economy shed fewer jobs in May than forecasters had predicted.
More properties went on the market in April. Anxious sellers – including banks – boosted the inventory of unsold homes to 10.2 months' worth.
Sales of existing homes fell 3 percent from February to March, but activity with lower-priced units may be picking up.
Under the new ‘mark-to-market’ rule, banks can consider the value of assets as if they are being sold in an orderly fashion, not in a distress sale.
Some 4.4 million jobs have disappeared since the recession began in 2007.