Bernanke: Recovery Clearly Rates Far From Complete

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Dec. 18 (Bloomberg) -- Federal Reserve Chairman Ben Bernanke discusses the reasons leading to the Fed's decision. He speaks at a press conference in Washington DC. (Source: Bloomberg)

Declines below 6.5%, especially projected inflation continues to run below the committees two percent longer run goal.

Today's policy actions reflect the assessment that the economy is continuing to make progress and that it also has farther to travel before conditions can be judged normal.

Despite significant headwinds, the economy has been expanding at a moderate pace and we expect growth to pick up somewhat inane coming quarters -- in coming quarters, modified by fiscal drag.

The jobless rate has continued to improve.

At the same time, the recovery is far from complete with him -- with unemployment still elevated and unemployment and long-term underemployment still major concerns.

We have also seen declines in labor force participation, which reflects not only the aging of the population, but also disgorgement on the part of potential workers.

Inflation has been running below the committees long-run objective of two percent.

The committee recognizes that inflation persistently below its objective could pose risk to economic performance and is monitoring developments

This text has been automatically generated. It may not be 100% accurate.


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