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August 26, 2011 –  By Dan Burns and Ann Saphir "We're not conversing about a contraction of the economies, but a slowdown of the expansion," Angel Gurria, secretary-common, of the Business for Financial Co-operation and Advancement club of industrialized nations, stated in an job interview with Reuters Insider in Jackson Hole, Wyoming, where central bankers are gathered for an yearly meeting. Only a number of nations, like Turkey, are nonetheless going through strong growth. The rest are linked together in what has turn out to be a standard slowdown: "In open up economies, if they are not increasing of training course they never acquire from the others," Gurria stated. Federal Reserve Chairman Ben Bernanke on Friday stated the U.S. central bank had marked down its outlook for U.S. financial expansion and manufactured clear the policy emphasis was nevertheless on spurring a stronger recovery, but he did not offer any clean facts on actions the Fed could get. For the entire interview, please see: http://bit.ly/ Even with the around-expression gloom, Gurria explained there is even now place for optimism on the lengthy-term outlook. "Not only did he say there's a way out, there is of class, but he pointed out a lot of of the reasons," he mentioned of Bernanke's remarks. "What we are seeing at the OECD is: Go structural, go social. That is if you ran out of financial policy space, you ran out of fiscal place due to the fact your pockets are empty, so you go structural." (Reporting by Dan Melts away, writing by Ann Saphir Modifying by Padraic Cassidy, Gary Crosse, Leslie Adler)