Federal Reserve chairman Ben Bernanke said the central bank is unlikely to pump further stimulus into the US economy unless it sees an unexpected sharp deterioration.
At a Federal Open Market Committee press conference yesterday, Bernanke said he was encouraged by signs of improvement in the labour and housing markets and expected growth to pick up gradually after remaining at moderate levels, Bloomberg reports. He rejected calls for the Fed to allow inflation to rise about 2% to stimulate growth, saying such a move would undercut the body's credibility. "To risk that asset for what I think would be quite tentative and perhaps doubtful gains on the real side would be unwise to do," Bernanke said. He added it would be "very reckless" to actively ...
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