Federal Reserve Chairman Ben Bernanke notes that the job market and economy have weakened in recent weeks, but he predicts that growth will strengthen later this year.
Associated Press
June 7, 2011, 3:06 p.m.
Washington—
Federal Reserve Chairman Ben S. Bernanke noted Tuesday that the U.S. job market and the economy have weakened in recent weeks. But he said that was mainly because of higher gas prices and the Japan crises — factors that should ease in coming months — and predicted that growth would strengthen later this year.
Bernanke made no mention of any new steps the Fed might take to boost the economy. The Fed's $600-billion Treasury bond-buying program is ending this month. The program was intended to keep interest rates low to strengthen the economy, but critics said it raised the risk of high inflation.
Full story:
http://www.latimes.com/business/la-fi-bernanke-20110607,0,5032285.story
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