Likelihood of US economic slump has diminished:
Federal Reserve chairman Ben Bernanke has said the likelihood of a severe US economic slump has diminished, while ``upside risks'' to inflation are forcing the Fed to be more vigilant.
The US is continuing to recover from the worst recession since the Great Depression, the White House said after the latest jobs report revealed that the unemployment rate for the month of April has dropped to 7.5 per cent, the lowest in four years.