Federal Reserve Chairman Ben S. Bernanke said he isn’t aware of any new stimulus tool for the central bank to use to try to boost growth.
“As far as I’m aware, there’s no completely new method that we haven’t” already tapped, Bernanke said today in Ann Arbor, Michigan.
The Fed lowered its benchmark interest rate to near zero in December 2008. Since doing so, its two main approaches for further easing have been communications about the outlook for interest rates and asset-purchase programs, both of which the central bank has used, Bernanke said.
To contact the editor responsible for this story: Chris Wellisz at firstname.lastname@example.org