Recovery’s strength unknown, Fed says
Bernanke acknowledges struggles ahead, pledges to keep rates low
Posted: December 8, 2009 at 5:52 a.m.
Federal Reserve Chairman Ben Bernanke warned Monday that it’s too soon to know whether the economic recovery will last and again pledged to hold rates at record-low levels for an “extended period.” The Fed chief’s speech to the Economic Club of Washington made clear he thinks the economy will struggle even as it recovers from the recession. He said the economy confronts “formidable head winds” — including a weak job market, cautious consumers and tight credit.
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Business, Pages 20 on 12/08/2009
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