Tuesday, June 7, 2011

Bernanke Says Accommodative Policy Needed for 'Uneven' Economic Recovery June-07-2011--


Bernanke Says Accommodative Policy Needed for
'Uneven' Economic Recovery 
June-07-2011--Federal Reserve Chairman Ben S. Bernanke said the central bank should maintain record monetary stimulus to boost an “uneven” and “frustratingly slow” economic recovery.  “The economy is still producing at levels well below its potential; consequently, accommodative monetary policies are still needed,” Bernanke, 57, said today in a speech to a conference in Atlanta.  “Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established.” Recent data showing weakness in the economy, including a rise in the unemployment rate to 9.1 percent in May, has increased the odds the Fed will hold the benchmark interest rate near zero into next year. At the same time, Bernanke and his fellow policy makers plan this month to complete a $600 billion bond purchase program, 
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