Bernanke Quells Talk of Fresh Fed Stimulus for Jobless Rate
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Federal Reserve Chairman Ben S. Bernanke said elevated unemployment and subdued inflation mean interest rates are likely to stay low, without offering any sign that the economy needs an additional monetary boost.
Bernanke repeated testimony today in the Senate that he delivered yesterday in the House, describing “positive developments” in the job market while saying it’s still “far from normal.” He said the inflationary impact of higher gasoline prices is likely to be temporary.