Bernanke Says Inflation to Remain Near Fed’s 2% Target
This article is for subscribers only.
Federal Reserve Chairman Ben S. Bernanke said inflation will probably remain at or below the central bank’s 2 percent target after energy prices reversed their gains from earlier this year.
“The sharp drop in crude oil prices in the past few months has brought inflation down,” Bernanke said today in testimony to a House committee, repeating written remarks to a Senate panel yesterday. Bernanke also said the Fed is ready to take further action to boost the recovery if necessary.