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Fri August 31, 2012
Bernanke Defends His Efforts To Lift Economy
DAVID GREENE, HOST:
NPR's business news starts with the latest comments from Ben Bernanke
(SOUNDBITE OF MUSIC)
GREENE: The chairman of the Federal Reserve defended his policies in a much-anticipated speech today in Jackson Hole, Wyoming. At a yearly meeting of central bankers, Bernanke spoke about the non-traditional measures he's had to use to boost the U.S. economy. The Fed can't use the traditional tool, lowering interest rates, because rates are already so low. Bernanke also warned about the dangers of the stagnant labor market and said he will do more as needed to promote a stronger recovery. Transcript provided by NPR, Copyright NPR.