Bernanke Says He Won’t Tolerate Inflation to Boost Employment
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Federal Reserve Chairman Ben S. Bernanke defended the central bank’s newly established price goal and rejected suggestions he was prepared to allow higher inflation to create jobs.
“We are not seeking higher inflation,” Bernanke said yesterday in response to questioning from Republican Representative Paul Ryan of Wisconsin, chairman of the House Budget Committee. “We do not want higher inflation and we’re not tolerating higher inflation.”