Bernanke Stands By Plan To Keep Record-Low Rates

By: AP
By: AP

WASHINGTON (AP) -- Ben Bernanke says the Federal Reserve is sticking with its plan to hold interest rates at record-low levels until at least late 2014, despite a pickup in hiring that's steadily lowered the unemployment rate.

The Fed chairman's twice-a-year economic report to Congress mostly mirrors his remarks in January after the Fed pushed back its timetable for any rate increase.

Bernanke acknowledges that unemployment, now at 8.3 percent, has fallen faster than the Fed had predicted. He says the Fed doesn't expect the rate to continuing falling as fast this year. But if it does, he says the Fed would reassess its economic outlook.

Some economists think the Fed will reconsider its 2014 target for raising interest rates if job growth continued to strengthen.

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  • by Anonymous on Feb 29, 2012 at 11:53 AM
    Timmy Geithner tells us that he doesn't want a world currency and then tells the Council on Foreign relations that he does. And you think that things are going to get better?
  • by Nath Location: Colo Spgs on Feb 29, 2012 at 10:25 AM
    Looking at Bennie's photo, I try to visualize him wearing an orange jumpsuit with "Levenworth" stenciled across the back. Timmie Geithner would look good in one also. Oh well, getting to the reason for this posting, I just got this newsletter dated February 8, 2012 recently which shows a real view of our current situation, not the lies coming out of the mouths of Ben, Tim, and other sources in Washington and New York. The real meat is under the titles "Not for the faint of heart and Who makes up these numbers?"
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