Federal Reserve Board chairman Ben Bernanke said Friday that the central bank realizes further monetary policy accommodation could be needed in the future and is prepared to take “unconventional measures” in response to the deteriorating economic outlook.

Bernanke pointed to weak economic growth and high unemployment in the prepared text of his speech to the Federal Reserve Bank of Kansas City’s annual Economic Symposium in Jackson Hole, Wyo. He said financial conditions are improved but bank credit remains tight and “much of the work of implementing financial reform lies ahead.”

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