No New Stimulus, Bernanke Says
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.
— Posted by Alexander Reed KellyWait, before you go…
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.Support Truthdig