Bernanke: Monetary Policy Not 'Panacea'; Says Fed Alone Cannot Fix Unemployment
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Go back to Bernanke: Monetary Policy Not 'Panacea'; Says Fed Alone Cannot Fix Unemployment
September 13, 2012 2:08 PM EDT
Ben Bernanke is scheduled to host a press conference at 2:15PM ET... More
September 13, 2012 12:33 PM EDT
Information received since the Federal Open Market Committee met in August suggests that economic activity has continued to expand at a moderate pace in recent months. Growth in employment has been slow, and the unemployment rate remains elevated. Household spending has continued to advance, but growth in business fixed investment appears to have slowed. The housing sector has shown some further signs of improvement, albeit from a depressed level. Inflation has been subdued, although the prices of some key commodities have increased recently. Longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee is concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions. Furthermore, strains in global financial markets... More
