Bernanke: Economy growing too slowly to reduce unemployment…

Posted on October 15, 2010

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Federal Reserve Chairman Ben Bernanke made a case for new steps by the central bank to boost economic growth, saying inflation was running below the Fed’s objective of 2% and that the economy was on a course to grow too slowly to reduce unemployment.

The Fed chairman’s economic outlook was generally gloomy. Business spending has slowed, consumer finances are improving unevenly, housing has remained depressed and job growth next year isn’t likely to be strong enough to bring down unemployment very much, he said.

via Bernanke Makes Case for Further Fed Moves to Boost Economy – WSJ.com.

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