Federal Reserve Board chairman Ben Bernanke Thursday repeated the central bank’s commitment to intervene if the U.S. economy does not continue to improve or if the jobs picture fails to recover.
Bernanke said it is important to get the unemployed back to work and called the high jobless rate “unacceptable” during his semiannual report to the House Financial Services Committee. He said the central bank has aggressively addressed unemployment and conditions have eased “quite considerably” as it has slashed interest rates close to zero, supported financial markets and purchasing $1.5 trillion of securities.
Bernanke said the Fed remains prepared to do more, if necessary.
— Market News International
