Tags: US | Bernanke | Stimulus

Bernanke Defends New Fed Plan to Boost Economy

Saturday, 06 Nov 2010 02:35 PM

 

JEKYLL ISLAND, Ga. (AP) — Federal Reserve Chairman Ben Bernanke is defending the Fed's new $600 billion program to aid the economy, rejecting concerns that it will spur runaway inflation.

Critics, including some Fed officials, fear that all the money being injected into the economy could ignite inflation or speculative bubbles in the prices of bonds or commodities.

Speaking to a conference on the Georgia coast Saturday, Bernanke says the new program, announced Wednesday, won't push inflation to "super ordinary" levels.

The Fed will buy $600 billion worth of government bonds in a bid to make loans cheaper and get Americans to spend more. Doing so, would help the economy and prompt companies to boost hiring.

___

AP Economics Writer Jeannine Aversa contributed to this report.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Your Questions and Comments Live on a Special Edition of The Steve Malzberg Show

Tuesday, 27 Jan 2015 14:17 PM

It's your turn to speak today out on a special edition of The Steve Malzberg Show today at 3 p.m. ET on Newsmax TV. Stev . . .

Taxpayers' Tab for Obama's Saudi Arabia Visit: $267,787

Tuesday, 27 Jan 2015 14:06 PM

Although President Barack Obama's visit to Saudi Arabia will only last for a few hours, the brief stay will cost taxpaye . . .

Dow Plunges on Dismal Earnings, Weak Economic Data

Tuesday, 27 Jan 2015 09:52 AM

U.S. stocks tumbled, weighed down by disappointing business forecasts from big-name companies and an unexpected drop in  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved