Wednesday, February 09, 2011

Ben Bernanke not Worried about Inflation

Ben Bernanke not Worried about Inflation - Federal Reserve Chairman Ben S. Bernanke, facing tough questions from Republican lawmakers over inflation and the Fed's policies, on Wednesday defended the central bank's efforts to stimulate the economy by pumping more money into the financial system.

At a hearing before the House Budget Committee, Bernanke said he wasn't concerned about the current level or expectations of inflation in the U.S., despite sharply higher oil and food prices that have pinched emerging economies and contributed to the wave of protests in the Middle East.

Bernanke denied that the Fed's loose monetary policies were responsible for rising global inflation. And he expressed confidence that the central bank's actions to spur growth in the U.S. — most recently by purchasing billions of dollars of U.S. Treasury bonds — were temporary measures that the Fed had the ability to halt or reverse before inflation spiked.

Ben Bernanke not Worried about Inflation

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