The Federal Reserve chairman, Ben S. Bernanke, said Friday that the Fed was determined to prevent the economy from slipping into a cycle of falling prices, even as he emphasized that he believed growth would continue in the second half of the year, “albeit at a relatively modest pace.”
To help sustain the economy, Mr. Bernanke said that the central bank was ready to resume its large purchases of longer-term debts if the economy worsens, a move that would add to the Fed’s already substantial holdings.
“We have come a long way, but there is still some way to travel,” Mr. Bernanke said.
“I believe that additional purchases of longer-term securities, should the F.O.M.C. choose to take them, would be effective in further easing financial conditions,” Mr. Bernanke wrote in his prepared remarks for a Fed policy symposium here. He was referring to the Federal Open Market Committee, the panel that sets interest rates, which Mr. Bernanke leads; some members have expressed unease about the Fed’s pursuing any further monetary accommodation.
So we don’t want falling prices? Ben Bernanke is a peice of work. The United States is on it’s last leg becuase of him and his predessors, more and more people join the ranks of the unemployed every day, and his solution for it is to keep prices high?
This guy is nothing but a counterfeiting price fixer, a loan shark at the top of his game, and the envy of every criminal enterprise across the globe.
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