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Ear to the Ground

No New Stimulus, Bernanke Says

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Posted on Jun 7, 2012
Medill DC (CC BY 2.0)

The Fed had not yet concluded that growth was slowing, Bernanke said.

In spite of May’s weak jobs report, Fed Chairman Ben Bernanke still sees no reason for the central bank to expand its efforts to boost the American economy. The Fed is assessing whether the economy would continue to grow fast enough to reduce the unemployment rate without further intervention, he said.

The New York Times:

… Mr. Bernanke told a Congressional committee on Thursday that the Fed had not yet concluded that growth was slowing, nor that new measures to stimulate the economy were warranted. The Fed’s policy-making committee meets in two weeks.

“Economic growth appears poised to continue at a moderate pace over coming quarters, supported in part by accommodative monetary policy,” Mr. Bernanke told the Joint Economic Committee, an assessment that on its surface was little changed from his last public remarks on the state of the economy in late April.

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—Posted by Alexander Reed Kelly

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