Fed ready to stimulate economy more, Bernanke says
Federal Reserve Chairman Ben S. Bernanke on Oct. 15, made a case for the central bank to take further action to bolster growth, citing the risks of prolonged high unemployment and a U.S. economy slipping into a deflationary spiral, the Los Angeles Times reported.
In a much-anticipated speech in Boston, Bernanke did not spell out details of how and when the Fed would take action, according to the report. However, Bernanke mentioned a program of buying additional assets, namely government bonds, in an effort to drive down long-term interest rates and stimulate economic growth as the first option, according to the report.
The central bank is widely expected to announce such a program, known as quantitative easing, at the conclusion of its next policymakers’ meeting on Nov. 2 and 3, the LA Times report.
From our partners
Sandvik Construction launches the newly developed CH540 cone crusher - the latest crusher in a market-leading series. The all new…
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- Check out this drone footage of the Atlanta quarry where 'The Walking Dead' was filmed (VIDEO)419 Views
- Rogers Group's Pottsville Quarry reaches for the stars346 Views
- Quarry Quest is returning to Michels Materials Quarry in Wisconsin for a 17th year (VIDEO)290 Views
- Caterpillar to lay off another 475 employees273 Views
- Texas town buys quarry land to eventually shut it down and keep the neighborhood quiet205 Views