WASHINGTON — Federal Reserve chairman Ben Bernanke gave no hint of new monetary stimulus measures, but said that the Fed’s currently “highly accommodative” monetary stance is “consistent” with both its price stability and maximum employment objectives.
Bernanke, delivering the Fed’s semiannual Monetary Policy Report to Congress, said the recent upsurge in gasoline prices will tend to increase inflation “temporarily,” while also undermining already-soft consumer spending and, in turn, economic growth.
