NEW YORK – The Federal Open Market Committee has been “bold and aggressive” and is “prepared to do more as needed,” Federal Reserve Board Chairman Ben Bernanke said Wednesday.
He said he is personally “very comfortable with the consensus view” of the FOMC about rates and when they will rise. He reiterated that while the committee now sees rates staying very accommodative until at least late 2014, the panel “would adjust based on data,” but adding accommodation now would be “very reckless.”
Responding too a question, Bernanke said it's a "little premature" to declare victory.
Housing and the European situation remain headwinds to a stronger economy, he said.
The slow pace of recovery has been frustrating and a concern, he said.