Although the jobs market has improved recently, it remains “far from normal,” and there are no guarantees that the pace of improvement will be sustained, so monetary policy should remain accommodative, Federal Reserve Board chairman Ben Bernanke told the National Association of Business Economists on Monday, according to a text released by the Fed.
While answering questions, Bernanke explained that he wants to see more “persuasive” signs that the economy can succeed without accommodation.
“I think it remains important for us to remain cautious and see how the economy develops,” he said. “What we are looking for is whether those positive elements are sustained and whether they lead to a self-sustaining recovery.”
