Articles
-
Ben Bernanke confirms: "QE Infinity" will continue
Federal Reserve Chairman Ben S. Bernankesaid the U.S. economy remains hampered by high unemployment and governmentspending cuts, and raising interest rates or reducing asset purchases too soonwould endanger the recovery.
“A premature tightening of monetarypolicy could lead interest rates to rise temporarily but would also carry asubstantial risk of slowing or ending the economic recovery and causinginflation to fall further,” Bernanke said today in testimony to the JointEconomic Committee of Congress in Washington. Monetary policy is providing “significantbenefits,” he said.
Bernanke is leading the most aggressiveeconomic stimulus in the Fed’s 100-year history in an effort to spur growth andreduce an unemployment rate that stands at 7.5 percent almost four years into arecovery from the longest and deepest recession since the Great Depression.
While the labor market has shown “someimprovement,” the Fed chairman said “high rates of unemployment andunderemployment are extraordinarily costly.”
“Not only do they impose hardships onthe affected individuals and their families, they also damage the productivepotential of the economy as a whole by eroding workers’ skills and—particularly relevant during this commencement season—by preventing manyyoung people from gaining workplace skills and experience in the first place,“he said.
Read full article
-
Authorized Person for MEX NEPAL
Mob: +977 9856030634 -
Biratnagar Branch Manager
Mob: +977 9852033934 -
Our Clearing Member
-
Our Banking Partners
-
-
-
