Breaking News-RTRS-Bernanke: Recession will likely end in '09

(USD) Fed Chair Bernanke says the recession will likely end in '09 with
recovery in '10, only if official actions succeed. Says economy 'severe
contraction' likely continued in Q1'09. Due to lower commodity prices, sees
substantial lessening of infl pressure. Says the public-private program to buy
bad bank assets will take a little time to set up. Says preferred convertible
shares will be turned into common, if losses build up. Also says the Fed is
working toward a uniform mortgage renegotiation approach for MBS it owns, but
it remains tricky.