Tuesday, August 9, 2011

Bernanke Signals Fed Dissenters Won't Impede Further Stimulus

Aug. 10 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke signaled he may expand record monetary stimulus over the most opposition of his tenure to revive the faltering recovery and reduce unemployment stuck around 9 percent.

The central bank said yesterday that officials "discussed the range of policy tools" to strengthen growth and are "prepared to employ these tools as appropriate" while pledging to keep the benchmark interest rate near zero until at least mid-2013. Three policy makers dissented from the decision for the first time since Bernanke, 57, became chairman in 2006.

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