U.S.central bank is ready to raise interest rates once the outlook for the U.S. economy significantly improve, said on Thursday the chairman of the Federal Reserve System (FRS) Ben Bernanke.
My colleagues at the Federal Reserve and I believe that the incentive policy would be justified even for a long time - quoting his statement at a conference in Washington, the agency Bloomberg. - At the same time at some point consolidates its recovery, and will need to tighten monetary policy to prevent the problem of inflation in the future.
To combat the crisis the Fed lowered rates to almost zero, began buying up mortgages and other securities, increasing its balance to $ 2 trillion. Analysts believe that now before the Central Bank is a very difficult task: to turn these emergency measures, without jeopardizing the financial market. The leaders of the Fed in recent years consistently pointed out that in their possession have all the tools to solve this problem.
In general, the Federal Reserve has a wide range of instruments to tighten monetary policy, as requested by the forecast of economic development, - said on Thursday, Bernanke said.
In September Federal Open Market Committee has confirmed his intention to maintain rates at a low level to support the still weak U.S. economy.
Given the amount of excess reserves in the economy, low inflation, we believe that the situation would justify the maintenance of an enabling policy for a long time, - reaffirmed Bernanke.
the same day Fed Governor Daniel Tarulo said he did not want to exaggerate the virtue of reviving the American economy. In his view, economic activity remains relatively weak.
Bernanke also elaborated on the Fed's actions during the crisis, proving their effectiveness. In particular, he said, the purchase of bonds had a positive impact on the level of interest rates.
According to economists, the Fed will start raising interest rates only in the third quarter of 2010.
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Bernanke: Raising rates will start at improving the prognosis of the economy
U.S.central bank is ready to raise interest rates once the outlook for the U.S. economy significantly improve, said on Thursday the chairman of the Federal Reserve System (FRS) Ben Bernanke.
My colleagues at the Federal Reserve and I believe that the incentive policy would be justified even for a long time - quoting his statement at a conference in Washington, the agency Bloomberg. - At the same time at some point consolidates its recovery, and will need to tighten monetary policy to prevent the problem of inflation in the future.
To combat the crisis the Fed lowered rates to almost zero, began buying up mortgages and other securities, increasing its balance to $ 2 trillion. Analysts believe that now before the Central Bank is a very difficult task: to turn these emergency measures, without jeopardizing the financial market. The leaders of the Fed in recent years consistently pointed out that in their possession have all the tools to solve this problem.
In general, the Federal Reserve has a wide range of instruments to tighten monetary policy, as requested by the forecast of economic development, - said on Thursday, Bernanke said.
In September Federal Open Market Committee has confirmed his intention to maintain rates at a low level to support the still weak U.S. economy.
Given the amount of excess reserves in the economy, low inflation, we believe that the situation would justify the maintenance of an enabling policy for a long time, - reaffirmed Bernanke.
the same day Fed Governor Daniel Tarulo said he did not want to exaggerate the virtue of reviving the American economy. In his view, economic activity remains relatively weak.
Bernanke also elaborated on the Fed's actions during the crisis, proving their effectiveness. In particular, he said, the purchase of bonds had a positive impact on the level of interest rates.
According to economists, the Fed will start raising interest rates only in the third quarter of 2010.
VTB Group and RUSNANO create a family of funds nanotechnology and innovation
TNK-BP invests more than $ 1 billion in the modernization of oil refineries in Russia and Ukraine
Net sales X5 Retail Group in the first 9 months increased by 38% to 196.6 billion rubles
Review of the FOREX market for 08.10.09
Forex Market 09/10/2009
Latin America: Growth Commodities inspired Brazilian buyers
Dollar depreciated - the morning review of cash markets
TAS goes to VTB
Kommersant: The State of strangling cigarettes