The New York Times
Fri, October 15, 2010 -- 8:24 AM ET
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Bernanke Outlines 'Case for Further Action'
The Federal Reserve chairman, Ben S. Bernanke, indicated on
Friday that the central bank was poised to take additional
steps to try to fight persistently low inflation and high
unemployment.
"Given the Committee's objectives, there would appear -- all
else being equal -- to be a case for further action," he said
in a detailed speech at a gathering here of top economists in
Boston.
Mr. Bernanke noted that "unconventional policies have costs
and limitations that must be taken into account in judging
whether and how aggressively they should be used." But he
suggested that the Fed was prepared to manage the risks
associated with the most powerful tool remaining in the Fed's
arsenal of weapons to stimulate the economy: vast new
purchases of government debt to lower long-term interest
rates.
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