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**Z2sc8gEz** · 07-22-2010, 01:18 AM

It's supposed to be bad, Ben. Didn't ya get the memo from the Kremlin...er White House?

http://www.cnbc.com/id/38347202

Bernanke Open to New Steps to Keep Recovery Going

Published: Wednesday, 21 Jul 2010 | 3:43 PM ET

Federal Reserve Chairman Ben Bernanke told Congress Wednesday the economic outlook remains "unusually uncertain," and the central bank is ready to take new steps to keep the recovery alive if the economy worsens.

Testifying before the Senate Banking Committee, Bernanke also said record low interest rates are still needed to bolster the economy. He repeated a pledge to keep them there for an "extended period." Bernanke downplayed the odds that the economy will slide back into a "double-dip" recession. But he acknowledged the economy is fragile.

Given that, the Fed is "prepared to take further policy actions as needed" to keep the recovery on track, he said. Bernanke said Fed policymakers haven't settled on "leading options" but they are being explored. Those options include lowering the rate the Fed pays banks to keep money parked at the Fed, strengthening the pledge to hold rates at record lows and reviving some crisis-era programs, Bernanke said.

"If the recovery seems to be faltering, we have to at least review our options," Bernanke told lawmakers. However, he added later: "We are not prepared to take any specific steps in the near term" because the Fed is still evaluating the strength of the recovery.

07-22-2010, 01:18 AM	#1
Z2sc8gEz Join Date Oct 2005 Posts 497 Senior Member	Summer of Recovery: Bernanke says economy is 'unusually uncertain' It's supposed to be bad, Ben. Didn't ya get the memo from the Kremlin...er White House? http://www.cnbc.com/id/38347202 Bernanke Open to New Steps to Keep Recovery Going Published: Wednesday, 21 Jul 2010 \| 3:43 PM ET Federal Reserve Chairman Ben Bernanke told Congress Wednesday the economic outlook remains "unusually uncertain," and the central bank is ready to take new steps to keep the recovery alive if the economy worsens. Testifying before the Senate Banking Committee, Bernanke also said record low interest rates are still needed to bolster the economy. He repeated a pledge to keep them there for an "extended period." Bernanke downplayed the odds that the economy will slide back into a "double-dip" recession. But he acknowledged the economy is fragile. Given that, the Fed is "prepared to take further policy actions as needed" to keep the recovery on track, he said. Bernanke said Fed policymakers haven't settled on "leading options" but they are being explored. Those options include lowering the rate the Fed pays banks to keep money parked at the Fed, strengthening the pledge to hold rates at record lows and reviving some crisis-era programs, Bernanke said. "If the recovery seems to be faltering, we have to at least review our options," Bernanke told lawmakers. However, he added later: "We are not prepared to take any specific steps in the near term" because the Fed is still evaluating the strength of the recovery.
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