WASHINGTON: Federal Reserve Chairman Ben Bernanke said on Tuesday the Fed will maintain ultra-easy US monetary policy for as long as needed, which could mean holding interest rates near zero until "well after" US unemployment falls under 6.5%.
In a speech to the National Economists Club that echoed dovish comments by his nominated successor, Janet Yellen, Bernanke also said that while the economy had made significant progress, it was still far from where officials wanted it to be.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!