Tags: US | Bernanke

Bernanke: Fed Will Take Action If Economy Falters

Friday, 27 Aug 2010 10:11 AM

 


Federal Reserve Chairman Ben Bernanke says the Fed will consider making another large-scale purchase of securities if the slowing economy were to deteriorate significantly and signs of deflation were to flare.

Bernanke's remarks, prepared for delivery to a conference here, came 90 minutes after the government said the economy slowed sharply in the second quarter to a 1.6 percent pace.

Fears are growing that the country could lapse back into a recession. The Fed chief stops short of committing to any specific action. He raises the prospect of another Fed purchase of securities, most likely government debt or mortgage securities, to drive down rates on mortgages and other debt to spur more spending by Americans.

Bernanke describes the economic outlook as "inherently uncertain" and says the economy "remains vulnerable to unexpected developments."


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 This material may not be published, broadcast, rewritten or redistributed.

1Like our page
2Share
 

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