Portfolio - Investment Insights

Bernanke: Actions Taken are to Quicken Recovery

by: Gary Siegel

Friday, September 14, 2012

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The Federal Open Market Committee's actions Thursday were designed to "quicken recovery," and will be removed before the nation reaches full employments, according to Federal Reserve Board Chairman Ben Bernanke.

"We need to see . more progress," He added.

Responding to questions, Bernanke said the FOMC isn't seeking to raise inflation and the panel still expects, after QE3 inflation will remain close to the 2% Fed target.

He reiterated the Fed's actions provided "real benefits," but the Fed alone can't solve the nation's problems.