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Testimony: Fed Chairman Bernanke

Federal Reserve Chairman Ben S. BernankeSemiannual Monetary Policy Report to the CongressBefore the Committee on Financial Services, U.S. House of Representatives

Feb. 27, 2008

Chairman [Barney] Frank (D-Mass.), Ranking Member [Spencer] Bachus (R-Ala.), and other members of the Committee, I am pleased to present the Federal Reserve's Monetary Policy Report to the Congress. In my testimony this morning I will briefly review the economic situation and outlook, beginning with developments in real activity and inflation, then turn to monetary policy. I will conclude with a quick update on the Federal Reserve's recent actions to help protect consumers in their financial dealings.