bobbyw24
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By Tony Romm - 12/07/09 01:05 PM ET
Federal Reserve Chairman Ben Bernanke said Monday the Fed will wind down extraordinary actions taken last year.
He said the board possessed both the tools and the will to wind down its response to last year's economic downturn.
While the chairman, currently up for re-confirmation, did acknowledge those new programs have left many "uneasy," he assured all of those reversible actions were "necessary and helpful" at stimulating economic recovery.
He also signaled the Fed would begin undertaking "unsparing self-assessments" of its bank regulatory powers, in part to ensure it would be able to handle economic crises that may later arise.
"The Federal Reserve has been aggressive in its efforts to stabilize our financial system and to support economic activity. At some point, however, we will need to unwind our accommodative policies in order to avoid higher inflation in the future," Bernanke said during a speech before the Economic Club of Washington.
http://thehill.com/blogs/blog-briefing-room/news/70915-bernanke-reassures-economists-fed-will-wind-down-its-programs
Federal Reserve Chairman Ben Bernanke said Monday the Fed will wind down extraordinary actions taken last year.
He said the board possessed both the tools and the will to wind down its response to last year's economic downturn.
While the chairman, currently up for re-confirmation, did acknowledge those new programs have left many "uneasy," he assured all of those reversible actions were "necessary and helpful" at stimulating economic recovery.
He also signaled the Fed would begin undertaking "unsparing self-assessments" of its bank regulatory powers, in part to ensure it would be able to handle economic crises that may later arise.
"The Federal Reserve has been aggressive in its efforts to stabilize our financial system and to support economic activity. At some point, however, we will need to unwind our accommodative policies in order to avoid higher inflation in the future," Bernanke said during a speech before the Economic Club of Washington.
http://thehill.com/blogs/blog-briefing-room/news/70915-bernanke-reassures-economists-fed-will-wind-down-its-programs
