"There's much more confidence now that we've got a sustainable expansion. You know, it's not a boom. It's not an expansion that's going to offer the possibility of a rapid decline in the unemployment rate. But I think there's much more confidence now that it's sustainable, much more confidence that we're able to avoid the risk of slipping back into recession."

 

In other news from the US, carmaker Ford has announced its highest earnings in more than a decade. Ford reported a net income of $6.6 billion for 2010, up 135 per cent on the previous year.

 

And to the market numbers: in the US, the Dow has closed down by more than 150 points. Australian shares ended yesterday on a sour note - the All Ords and the ASX 200 closed just over two thirds of a per cent lower. Elsewhere, Asian stocks were down - the Nikkei and Hang Seng both lost more than 100 points. And the Australian dollar is buying around 99 US cents and 62 British pence.