Chairman Ben Bernanke says the US economy still needs help from the Federal Reserve’s low interest rate policies.
Bernanke made the remark while answering questions after a speech in Cambridge, Massachusetts. His speech focused on the Fed’s successes and failures in managing the economy over the past 100 years.
He told the National Bureau of Economic Research that because unemployment remains high and inflation is below the Fed’s target, the policies are still necessary. He also said the economy is being held back by higher taxes and federal spending cuts. Bernanke didn’t signal any changes in the Fed’s bond-buying program during his speech.