Bernanke Affirms Low-Rate Pledge Without Offering Easing Options
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Federal Reserve Chairman Ben S. Bernanke affirmed that interest rates are likely to stay low at least through late 2014 without offering any indication that further monetary easing is under consideration.
“At present, with the unemployment rate elevated and the inflation outlook subdued, the committee judges that sustaining a highly accommodative stance for monetary policy is consistent with promoting both objectives” for stable prices and maximum employment, Bernanke said today in testimony to the House Financial Services Committee in Washington.